Tenants Told To Help Themselves

Those looking for property to rent over the coming weeks or months should learn to help themselves in their search. A private rental sector expert, David Lawrenson, asserted that a lot of this could be achieved through thorough organisation.

If tenants ensure that they have the correct documentation, including a proof of income, evidence of employment and proof of address, then their experience finding rental property would be much easier.  Good preparation, according to the expert, is vital.

Mr Lawrenson explained, saying that "if somebody comes along with all the documents prepared... then they are half way there, but very few do it. That shows that someone is organised and you can see straightaway whether they can afford it or not and they would get the property ahead of the rest.”

Research conducted by the Intermediary Mortgage Lenders Association showed that 73% of the intermediaries found it was not possible to secure a mortgage for at least one of their clients in the beginning quarter of this year.

The findings stated that 47% of first time buyers who were not able to obtain mortgage finance decided that renting was the best option, with a further 13% of buyers, in this case next-time buyers, choosing to make the move to rental property.

Mr Lawrenson said that being prepared shows that someone is organised and you can see immediately whether they can afford it or not and they would get the property ahead of the rest.

The expert said that in the midst of this growing demand, it is essential that potential tenants come across as well prepared, and able to afford the property, which in turn will give them a head start against the rest of the market.

He concluded, saying "the majority have to go away and you wait for about four or five days while they get their references together so, if someone beats them to it, then they will lose the rental property.”

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