Our tenants moved out in July, we have spent the last three months doing work on our flat, including replacing the kitchen and new flooring. We have also spent those three months trying to decide whether to sell or rent again. We finally decided to advertise for tenants but have been underwhelmed with applicants. The last time we advertised it on Openrent (2022), I did this at 1 am and by 8 am we had more than a dozen applications.
This time I’ve been very clear about minimum income for applicants and explained that we are unable to rent to people with children or pets at this time ( We share a landing with a 94-year-old woman, she can be quite volatile and she’s very sensitive to sound. She also has an elderly cat and gets very agitated when we take our dogs to the property with us. It’s just not worth causing any problems with her by having tenants with pets or children).
We always advertise the property at the bottom end of rentals locally, so I don’t think it is overpriced (it is currently the cheapest 2 bed flat in the area). However, we have only had 12 applications since we listed it 5 days ago. Has the market slowed down?
I have found it’s seasonal
It was busy till last month and now it’s gone quiet again
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It depends on so many factors. Area, market demand etc. Is there are landlords group in your part of the world where you could make comparisons?
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