Are you struggling in the rental market right now? Many renters are suffering in 2022 due to a lack of supply, rising rental costs, and the cost-of-living crisis. It is worrying when you are unable to find somewhere to live and disheartening when places are getting snapped up immediately with many people even offering to pay over the set rental price. It is important to not panic, though, as there are a few useful pieces of advice to follow that will hopefully help you to find your next home before long. Interested? Keep reading to find out useful advice for renters in 2022.
Work Out Exactly What You Can Afford
First, you need to know exactly what to afford when looking in the rental market. In addition to the cost of rent, you will also need to factor in energy bills, broadband, water, council tax, and then your living costs. When you know what your limit is, it can then be a lot easier to filter your results and find what you are looking for.
Consider Paying 6 Months Upfront
If you can do so, you will find that offering to pay 6 months upfront could put you in a much stronger position. With demand so high, it can be hard to secure a property right now and you need to consider ways to put yourself at the front of the queue. Offering to pay 6 months upfront will be hugely beneficial for the landlord and could also make it easier for you to get settled in your new home, without having to worry about rent for a while.
One of the main reasons that people are struggling in the rental market right now is a lack of flexibility. To find somewhere when demand is so high, you may need to be able to give up a few of your preferences. For example, you may need to expand your radius or consider a smaller property. You will find that places on the outskirts of towns and cities are a lot more affordable and you can get a lot more for your money.
Use a Local Residential Letting Agent
It is also worthwhile using a local residential letting agent that will be able to find a property in the area that fits your requirements. Local agencies will have the best understanding of the rental market in the area and could offer expert advice to help you to find your next home. This is particularly useful in popular places, such as Bristol. Bristol letting agents can show you the best properties that fit your requirements in the area and will work to help you to find the right place.
As the rental market is so competitive right now, you also need to be willing to act quickly. You should be arranging viewings as quickly as you can and decide faster than you normally would. Everyone would like to have time to mull over such a large financial and lifestyle decision, but if you hesitate, then you will lose out, so you need to be willing to act quickly to secure your next home.
Have Everything in Order
Following this, you can also avoid delays in the application process by having everything ready to go. You will want to have your bank statements, job information, tax returns, and reference contact information ready to send off, so that you can quickly get through the application process. Additionally, make sure that you have positive references that will help you to secure the property.
Improve Your Credit Score
Following this, a credit check is another key step to go through in the application process. Therefore, it is a good idea to check your credit score and take steps to improve this if needed. There are many ways to improve your credit score, such as:
- Checking for incorrect information
- Registering to vote
- Pay bills on time
- Use credit little and often
- End financial links to others
It is tough in the rental market right now with high demand, rising costs, and the cost-of-living crisis. Hopefully, the advice in this post will be useful for anyone looking for their next home in the rental market and help you to find a property that ticks all the boxes and is within your budget. It is important to stay positive, to know what your needs are, and be willing to act quickly if you want to find success in the current climate.