Renters teams have blamed letting brokers for encouraging non-public landlords to boost rents to unacceptable ranges to assist enhance their revenues.
In a Era Hire survey of greater than 1,000 renters in England, when tenants going through hire rises requested their landlords for an evidence, 17% cited letting agent recommendation in contrast with 11% of landlords who cited mortgage prices as the rationale for rising hire.
The survey discovered {that a} third of potential tenants had been requested to attend mass viewings with different renters, 1 / 4 have been requested for a number of months’ hire prematurely and a fifth had been instructed to bid up rents to safe a house.
Deputy director Dan Wilson Craw (pictured) tells the Monetary Instances that hire will increase are, “signs of a market the place there’s a scarcity of properties, however letting brokers are making life tougher for tenants, making the entire course of extra irritating”.
Michael Deas, a co-ordinator for the London Renters Union, provides: “Rents don’t simply go up — they’re inflated by…brokers and the market reviews they put out.”
Lettings boss Greg Tsuman, president-elect of ARLA Propertymark, refutes the claims that brokers’ behaviour has distorted the market and says costs are going up due to fierce competitors for properties.
He provides that letting brokers typically advise landlords to go for decrease costs as they’d be extra sustainable long-term.
“If everyone seems to be preventing for the property, it’s irritating,” Man Gittins, chief government of property agent Foxtons instructed the newspaper.
“Guess what, it’s irritating for the agent too, it’s not an surroundings we welcome. We sympathise with the renters of London; it’s a provide and demand dynamic that’s not wholesome.”