Three experts explain how tenants can beat the competition to secure a rental home in a hot market

Tenants are bearing the brunt of the housing crisis in the rental market, forcing them to compete fiercely for every property that comes on the market.

The number of inquiries each property receives from prospective tenants has more than tripled, from eight in October 2019 to 25 today, according to Rightmove.

This is because the number of homes available for rent is nowhere near the number of people who want to move.

There are 41 per cent more tenants looking to move now than in 2019, Rightmove says, but the supply of rental properties has fallen by 35 per cent.

Supply-demand mismatch: There are now many more renters looking to move than before the pandemic – but fewer properties are available to accommodate them

Not only has this made rents much more expensive, but it has also made finding a new home a Herculean task that can be both emotionally and mentally taxing.

Alasdair McClenahan, founder of tenant support service Justice For Tenants, said: “This is the most difficult time to be a private tenant for many years. Tenants are paying a higher percentage of their income on rent than at any time in the last 50 years.

“As interest rates drive many landlords out of the market, we are witnessing a short-term supply shortage resulting in intense competition between tenants.

“It’s not unusual to have ten potential tenants looking at a property at the same time, with agents asking each to make their best offer.”

This “best offer” system is increasingly common and requires tenants to state the maximum amount of rent they would be willing to pay above the advertised price.

We asked property experts how renters can improve their chances of securing the home they want in the doggy rental market.

Write a letter to the landlord

If the average recruiter is competing with two dozen other applicants, it’s vital that they do everything they can to stand out from the crowd.

Offering to pay more is the obvious tactic, but there are a number of other things tenants can do to show they are an attractive prospect to a landlord.

In the same way that one might approach a job application, recruiters are advised to send a polite email along with any offer.

McClenaghan says: “When applying for a property, sending a polite email with information about you and the other tenants, along with any information the landlord would like to know, can be helpful.

“Many letting agents will simply forward this email to the landlord. If there is a group of tenants who have sent a polite email indicating they will be good tenants and have proactively shared their employment and income status, the landlord may feel more comfortable.”

Show that you are “the one”

Richard Davies, chief operating officer of Chestertons letting agents, says some tenants are going even further in their efforts to take advantage of landlords and letting agents.

He says: “Despite the competitiveness of the market, we still see landlords who want to make sure their properties are looked after.

“Therefore, they prefer the tenant who appears to be a ‘fit’ over the tenant who offers to pay above the asking rent.

Your best foot forward: The same way one might treat a job application, recruiters are advised to send a polite email along with any offer

“Some tenants have taken their property search to a new level by providing carefully crafted letters to the landlord explaining why they are the ideal tenant for their property.

“Others are willing to agree to longer leases, pay their rent in advance or even pay more than the asking rent. This is only really recommended if you are comfortable doing it.

Drop your plans for the right home

Being prepared with references from a current employer and landlord will also be important, according to Dan Wilson Crowe, deputy executive director of the Generation Rent campaign.

This allows you to move quickly once you find the right home.

He says: “It’s important to be prepared with references from your employer and current landlord so you can make an offer quickly.

“It helps to be willing to drop other things to visit a potential house and make an offer.

“The current state of the private rented sector means that if you don’t move quickly, you could lose the house you’d rather be in.”

Be smart: Trying to win over the landlord doesn’t necessarily mean paying more rent. Some landlords prefer longer leases or receiving the rent in advance

Be ready to compromise

In the current market, renters may also have to compromise on the type of property or area they want to live in.

“Given the lack of affordable housing, renters often have to make compromises,” adds Wilson Crowe. “It’s important to know what is essential for your home and what you can be flexible about.

“Does the home have to be a certain distance from where you live now? What size requirements do you have and would you live in a smaller space if you had to?

“Along with space, determining how much you can afford is really important. If you’re not earning more than 2.5 times the rent, then the landlord or agent will often ask you to get a guarantor or pay a few months’ rent in advance.

Pick up the phone to your hiring agent

It is also recommended that tenants be proactive in their search and respond to agents’ phone calls and emails.

Richard Davies of Chestertons says: “We always advise tenants to start their property search as early as possible and inform their estate agent of their planned move-in date.

Rise: The quarterly change in average advertised rental prices, according to data from Rightmove

“To increase your chances of securing the property you like, make sure you have all the necessary documents.

“Finding a new home and moving can be a stressful experience, but remember that your real estate agent is here to help.

“We therefore recommend that you keep in regular contact with your agent and give them honest feedback after each viewing, as this will help you find the right property for you as quickly as possible.”

In a fiercely competitive market, renters who have pets will often find it even more difficult, according to Davis.

“Tenants who have pets also often face the challenge of finding a pet-friendly property, which is why Chestertons has previously supported the Dogs Trust’s Letting With Pets scheme to encourage landlords to accept pets in your property.

“Some tenants even create pet CVs, outlining the training their pet may have undergone and explaining that there will be no damage to the property.”