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.

< Older Post Newer Post >

Unlocking Insights: A Deep Dive into the Preferences of UK Tenants

By Eve Thomson • 24 Aug, 2023

In a recent comprehensive survey conducted by JLL, 1,400 residents from across the UK shared their perspectives on various aspects of their living arrangements, preferences, and what they value most in their homes. Here's an exclusive look at the key findings that shed light on the evolving landscape of UK tenant preferences...

Housing Supply England Q2 2023

14 Aug, 2023

Savills have reported that England witnessed a decrease of approximately 25,000 new homes in the past year compared to the previous year. This decline in new home construction raises concerns about supply and demand.

Later Living Market – July 2023

04 Aug, 2023

Given that just over 8000 new senior living units were created in 2022, at the current rate there would be a shortfall of over 700,000 by 2040.

Q1 2023 | Rental Market

24 Jul, 2023

Rightmove’s data from Q1 2023 indicates the prevailing mismatch between supply and demand will continue in the UK due to the lack of expected new rental properties to come on the market.

Kosy Unveils Exciting Vision for Innovative Co Living Community in Bath

By Eve Thomson • 26 Jun, 2023

The multi-use scheme will be the first-of-its-kind in the area. Kosy Co Living aims to provide a dynamic and sustainable living experience, incorporating co working spaces, new and improved retail and workshop units for the existing businesses, and significant enhancements to two key public underpasses connecting Wells Road with the City Centre.