The property market is a fierce place to be right now and any potential tenants currently looking for rental property will know that high quality homes in good locations are thin on the ground – and this is especially true in Leeds city centre.
We manage the city centre’s largest apartment portfolio and we’re currently experiencing our highest ever occupancy figures which stand at over 99%. To put it in perspective, when we opened our doors back in 1997 there were only around 500 or so hardy souls living in the city.
Fast forward a few years and today there are approximately 11,000 apartments in Leeds city centre which are home to around 14,000 residents and we estimate that only about 100 of these homes are currently sitting empty.
This chronic shortage of rental stock means it’s not unusual to have as many as three or four people trying to rent every property we bring to the market and homes that are finished to a high standard, in a good location and realistically priced will often let in less than a day.
However, there are lots of things potential tenants can do to increase their chances of securing their ideal home. First of all it’s important to demonstrate that you will be a reliable tenant and be ready to commit as soon as you see the property you want.
This means getting your finances sorted beforehand. Most letting agents will run a credit search so check your credit report to ensure it’s up to date. Others might ask for references, perhaps from a previous landlord or employer, so think about who you could ask to provide these and maybe even have copies ready to give to the letting agent.
If these are proving problematic don’t lose hope because it may be possible to use a guarantor, such as a parent, who will join into the agreement and offer to pay the rent in the event that you fail to do so. Obviously arranging this can take time so it’s something you need to think about in advance.
Finally, most good letting agents will keep databases of people who are looking for property in certain areas so whenever you enquire about a property it’s worth asking to be added onto their list so that when anything similar is available you’ll hear about it straight away.