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Less Bargaining Power For 'Tenants'

Tuesday 15th September, 2009

A recent survey has indicated that tenants' have less bargaining power due to fewer rental properties coming onto the market.

Rent costs for property lettings has been steadily falling, however there was a significant slow in the fall in the three months to July, according to figures from a survey by the Royal Institution of Chartered Surveyors (RICs).

Homeowners who need to move home are now seizing the opportunity to sell in a more stable market, rather than letting the property as reluctant landlords.

This drop in the number of available properties to rent means tenants have less opportunity to negotiate about the price.

However, the chief economist at the RICs, said tenants looking for a property to rent were still in a "relatively strong" position compared with two years ago as the last 18 months has seen huge extra choice for tenants as homeowners who did not want to sell at a loss have instead rented their property out, there are still considerably more properties available now than there were two years ago and negotiations on the rental price are still possible.

Tenant Direct are

, Hampshire, if you are a landlord with a property you would like to let out or if you are a tenant looking to find a new home please get in touch for immediate, free assistance.