Tales from the Front Line

It's a Landlord's world

by Sarah Daly
on July 7, 2010 in Rental Property

From time to time in the rentals industry we see different conditions which favour either Landlords or Tenants. However, having been in the business nearly 20 years, I don't ever recall a market like this. In the Country particularly we are experiencing such a severe lack of rental stock that all good properties are receiving two or more bids to let and competition to secure the right house is fierce. With the scarcity factor now being a key component to the bidding process, we have recently been invited on all of our higher value transactions to submit "best and final” bids....... Where has this come from? This is not rental terminology and yet, time after time, we are finding this bull-market mechanism being used in the lettings market and a common theme has been that some agents have been a little behind the curve in their valuations and have not taken into account the simple economics of supply and demand.

Watch this space to see if rental values increase significantly should stock levels not improve - it's definitely a Landlord's market.

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