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Shortage Of Property To Let Creates Competition Among Tenants
The UK is facing a national shortage of property to rent, according to online letting agent Upad.co.uk, and enquiries from potential tenants are rising all the time.
James Davis, chief executive officer of the site, said there are now more people enquiring about each property than there were 12 months ago, leading to greater competition among tenants to be picked by a landlord.
"Signing longer terms for a property and going fully prepared with references, credit checks and previous landlord references ensures that you are positioning yourself as a better tenant and de-risking from a landlord's perspective," he advised.
Meanwhile, LettingFocus.com's David Lawrenson said the state of the economy is responsible for the rise in people seeking property to rent, as a lack of job security encourages people to look for more flexible living arrangements.
He went on to say that he does not believe rents will fall in the foreseeable future, particularly in London.
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Article date: 9/27/2011 12:00:00 AM