Making Quick Decisions in a Fast Moving Rental Market
The summer is always a busy time in the rental market and, as an applicant, when people are making quick decisions it can feel that properties are being let before you even get a chance to see them. This can be extremely frustrating, but we see it happening every year. Our advice is to be prepared before the viewing so that you can make a decision as soon as possible.
It is worth stating that there is a difference between making a quick decision and making a rushed decision and we would never recommend the latter; the key is in knowing what you want and knowing what you can be flexible on. Once you have found the property you want, don’t hang about or mull it over for a few days as the chances are that it might let to someone else who was ready to make an offer.
Here are a couple of recent examples where quick, well informed decisions were made and applicants placed offers on the first viewing.
The landlord of this top quality 2 bedroom, 2 bathroom apartment in North Oxford had listed the property with an Oxford-based agent. In three weeks the agent had only conducted one viewing, and after seeing a Finders Keepers board at the block of apartments they contacted us to try to find them a tenant.
At the same time, Letting Manager Michelle O’Keeffe was in the process of trying to find a property for a great applicant who is moving to Oxford to study. She matched some great properties in Jericho with his requirements and arranged a day and time to view them. On the morning of the appointment the keys for this North Oxford apartment arrived in our office and Michelle decided to show the property to her applicant, even though it was a little further out from the city centre.
The Jericho properties were not quite what he was looking for, but when he saw the North Oxford property he immediately decided it was right for him: light, bright and furnished to a high standard and, importantly, had a second bedroom for when his family come to visit. He applied and after all the relevant paperwork was completed he moved in a week later. Signed, sealed, delivered on the first viewing.
The landlord of this property had decided to enlist Finders Keepers Bricks & Mortar to renovate the property before releasing it back onto the rental market. The new kitchen, bathroom and en-suite shower room were a real improvement, helping to maximise the space available and modernise the property.
The property hadn’t even been listed for 24 hours before applicants had reserved the property.
The applicants were looking for a modern property and the recent improvements made an immediate good impression. They were eager to process their application quickly as they had been disappointed with the quality of previous properties and let down by other agents in the past.
This time of year is busy for most letting agencies, with more applicants looking to snap up the best properties. At Finders Keepers we always want to make sure the best applicants find the right home, even in these rush periods. Please come and talk to us if you would like guidance on making informed, quick decisions when it comes to renting a property.