High Demand & Limited Availability

The number of properties available to rent in the UK has dropped by a third over the past 18 months. The BBC has reported that people are finding it difficult to find a rental property due to huge demand and competition with other property searchers. This means that there are a limited number of properties available at any given time.

Zoopla's data, gathered from the listings on their website, confirm that demand for rental properties has risen to 50%+ above ‘normal’ levels.

A direct result of this shortage is that rent prices have gone up and a large number of landlords have left the market. Zoopla reported that 11% of homes now for sale on the website were previously rented.

Richard Donnell, Executive Director for Research at Zoopla said:

"We just haven't seen much new investment by landlords in rented housing. And that's creating a real crunch in availability."

New regulations for landlords, increased mortgage rates and tax changes have made it less profitable for landlords to buy properties and make them available for rent. Short-term lets, such as Air BnB ,has seen a three-fold increase since 2019 according to Zoopla, as this offers better returns than long-term tenants.

So how do you secure a rental property? The majority of people understand the importance of having a good credit rating and their deposit secured, however, here are some other tips for those currently searching for rental properties:

Widen Your Search

Most people have the perfect area in mind and it's difficult to stray away from this when you know where you want to be. However, widening your search area can often surprise you, and in fact travel time to the area you want to be, might be much quicker than you initially thought. Use Google maps, city mapper and distance features on property search websites to broaden your search.

2. Be Prepared & Move Fast

Once you know your area, it's important to know exactly what you are looking for in a property and have your 'negotiable' and 'non-negotiable' lists ready e.g. furnished, appliances etc. Searchers can then set up property alerts and be ready to move fast in terms of arranging a viewing or applying. Rightmove reported that 70% of rental properties listed received at least one enquiry within the first day of it being published, so it’s important to be prepared and move quickly to get ahead of the competition.

3. Have all your information ready

It's important to have your references and their contact information ready to go, plus any other information you can give the landlord such as when you can move, your situation and any flexibility on dates etc. The more accurate detail you can provide, the easier it is for the landlord and the more likely you are to secure the property over someone with a less detailed enquiry.

About Kosy Living

Kosy Living's mission is to build spaces that encourage and facilitate human connection and collaboration, enhance lifestyles and create unforgettable memories for our residents.

Our group specialises in the alternative residential sectors, which include Student Accommodation, Co Living, BTR and Later Co Living. We believe that these sectors offer a robust solution to the housing crisis by providing contemporary and quality rental homes in top locations for a variety of property searchers.

Our buildings are managed 24/7 by our staff, delivering excellent customer service from the day our residents move in. In addition, these types of properties can often be the more affordable option due to bills being included, plus excellent benefits and amenities within the property such as housekeeping, on-site maintenance, social events, outdoor spaces, gym/classes, co working facilities, and dining options.

We seek to build communities and therefore offer long-term tenancies to help us achieve this. Our buildings are managed 24/7 by our staff, delivering excellent customer service from the day our residents move in.

Learn more about Kosy Living here.

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