Securing a Rental Property in High-Demand Locations

Finding and securing a rental property in a busy city or town can be a major hurdle when relocating for a new job, especially in markets where demand outstrips supply. Improving your search strategy is essential for overcoming these challenges. This guide offers essential tips for relocating employees to stand out in competitive rental markets, ensuring a more enjoyable transition to their new city. If you’re an employee relocating for a new role, here are some key tips to improve your home search and make your application stand out.

Get Local Rental Market Intelligence

Before you start looking at listings, it’s helpful to have an understanding of the housing market in your new location. Rental markets can vary drastically from one neighbourhood to the next. Connect with colleagues already living in the area to get insider advice on the most desirable pockets and up-and-coming areas to live. Having this localised knowledge will help you hone your search, maximise your time house hunting and improve your chances of securing a rental property quickly.

Work With a Local Letting Agent

While you may find property listings online, there is huge value in having boots on the ground. Identify a few experienced letting agents in your new location and explain your relocation situation. A reputable local agent will have access to properties before they even hit public websites and apps. If you want to search for property listings online, the most popular UK sites are OnTheMarket, Rightmove and Zoopla.

Engage a Local Relocation Agent to Secure a Rental Property

One of the best resources for simplifying your rental search in a new location is a local relocation company, also called a destination services provider. These experts work exclusively with relocating employees and have extensive knowledge of the rental market, neighbourhoods, schools, and more.

A relocation consultant will discuss your specific requirements and then conduct an informed property search matching your criteria. Their local connections give early access to new listings before the public. They’ll arrange viewings, facilitate applications, emphasise your credentials to landlords, and potentially negotiate better terms.

Reputable relocation companies like Klippa also provide comprehensive relocation support beyond housing with trusted partners like banks, vehicle sourcing specialists, removal companies and more. The personalised local area insights and services of a relocation consultant take the guesswork and hassle out of getting settled in a new location. Their exclusive resources give you a major advantage in competitive rental markets and help you secure a rental property without the hassle.

Consider a Short-Term Rental First

Rather than feeling rushed into a long-term tenancy, you can give yourself some breathing room by reserving a short-term, serviced rental for the first one or two months after your move. This will give you time to get familiar with different neighbourhoods and allow you to search for permanent housing without being on a tight timeline. These rentals usually come fully furnished, saving you the hassle and expense of having to buy furniture right away. Overall, choosing a short-term rental first can make your transition to a new location much smoother and more manageable. Just be sure to account for those added costs in your relocation budget.

Build Your Tenant CV to Secure a Rental Property

With limited housing stock, landlords can be incredibly selective about who they choose as tenants. Make their decision easy by crafting a comprehensive tenant CV that showcases why you would be a model resident. Include details like your employment history, salary, credit score, references from previous landlords, and a personal biography, including information such as being a non-smoker or having no pets. Having this information professionally presented can help you get prioritised over other applicants.

Ensure you have to hand proof of income or ability to pay, such as recent pay slips or bank statements showing savings, and a copy of your employment contract or a written statement from your employer.

The majority of this information will be requested from you during the referencing stages; however, providing it in advance can only present you in a more favourable light for the time when the landlord makes a decision.

Be Flexible When Searching for Rentals in Competitive Markets

Tight rental markets often mean making adjustments to find the perfect fit. You may have to broaden your search by considering neighbourhoods you might have initially overlooked. Be prepared to adapt your budget if a bidding war erupts. Prioritise your must-haves, like size, amenities, or parking, but be flexible on wishlist items. Don’t get hung up on minor details that might eliminate great options. Additionally, be flexible on the move-in date, lease terms and requirements, like allowing pets. The more open you are and the fewer demands you make, the more appealing you’ll appear as a tenant. Remember, inflexibility can leave you with few choices when housing is scarce.

Maximising Responsiveness for Rental Success

When good rentals hit the market, letting agents are inundated with enquiries instantly. Being one of the first to follow up can make or break your chances. Get ahead in the game by providing agents and landlords with multiple contact methods upfront and ensuring lines are always open. Configure voicemail, clear inboxes, and enable notifications. Respond promptly to any communication or request without delay. If offered a viewing, attend at the earliest possible opportunity. You want to demonstrate an enthusiastic, motivated desire to proceed swiftly. In fast-paced markets, landlords won’t wait on sluggish responses. Being hyper-responsive and easy to reach demonstrates that you are a proactive tenant, and will put you in a more advantageous situation than other renters.

Submitting a Competitive Rental Offer in a Tight Housing Market

In a typical rental market, tenants often try to negotiate the best possible rent and terms. But when rental stock is severely limited, the usual tactics get flipped. In an extremely competitive market, you may need to put your highest offer on the table upfront rather than holding back to push for a discount. An assertive rental offer that exceeds the asking rent, along with demonstrating your financial stability and reliability as a tenant, could sway the landlord to select you over other applicants. This proactive approach shows the landlord that you are a serious and committed renter, which can be make-or-break in a highly competitive environment where properties are in high demand.

Final Thoughts

In conclusion, securing a rental property in high-demand locations requires thorough planning and a proactive approach. By taking advantage of local expertise, engaging with letting and relocation agents, and considering short-term rentals, you can ease the transition to your new city. Preparing a convincing tenant CV, maintaining flexibility, and being responsive to landlords and letting agents can significantly enhance your chances of securing your ideal rental property in a competitive market.

Speak to one of our experts or send a message today and find out how we can add value to your relocation programme.

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