Wise Move

This year as opposed to others we find ourselves with a late rush of activity. The summer is not one that we can compare to recent years, although of course the Olympics and Jubilee are stand out events, as a whole the summer has been busy.

Currently stock levels are high and Landlords are aware, after a long summer, that presentation is key. The quality of available properties has improved and, of equal importance as Landlords’ expectations have been met, the market rents achieved have stablised. Landlords realise that prices are the same as last year and not to expect big increases.

In a Tenants’ market it is important to remember that a deal needs to be fair. Yes, Tenants can play hard ball and in many cases a Landlord might agree to a low rent but twelve months down the line no Tenant likes a 20% hike in the price! The example I have set out is becoming more and more common. Twelve months on, after agreeing what seems to be a deal too good to be true Tenants are complaining that they are facing a big increase in the rent and it is the Landlords’ greed that is forcing them out. It is, in fact, the case that a deal needs to be balanced with each Parties’ interests considered factoring current market factors into the equation.

My main advice to you is if you are currently looking to rent it would be wise to keep this at the back of your mind. Consider that many properties that were priced highly have been reduced and as a result look no more than 10% above your budget. That said, although the internet is such a fantastic tool you will not get a better insight as to the ever changing market unless you are in constant communication with a good agent. Lurot Brand place knowledge within our Team as of highest priority. The result here is that when you pick up the phone or come into one of our offices you will be dealing with a negotiator who has a comprehensive market knowledge and has been trained to a high standard. They will be best placed to advise you on the properties that might squeeze in under budget and when it comes to the point of placing an offer, what will reasonably be considered.

The final piece of advice that I would give comes down to referencing. Within the fast-moving Central London market the ability to proceed quickly following successful negotiations rests firmly on you. Each case and background is different and as a result it is something that you should discuss with your negotiator. I would recommend this is something that I would do at the outset of the search, as nobody wants unecessary delay later on when you have found your perfect new home.

As a family company with over 40 years’ experience we place great emphasis on our professionalism and friendly approach.

Please don’t hesitate to contact us, we are eager to help. Best of luck with your search.

Written by Charlie Giblin | Lettings Negotiator