Rushing Into Tenancy Agreements 'Ends In Regret'
Norwich property surveyors may want to advise their clients not to rush into signing their tenancy agreements in a hurry, given new research revealing that 61 per cent are unhappy with their rented home.
Conducted by Ocean Finance, the study found that 32 per cent believe they rushed into signing, with one in five going on to admit that their properties are too small or feel cold. In addition, ten per cent say that the location of their house is their biggest regret, while seven per cent would prefer to have more outdoor space.
It is believed that the growing demand for properties to rent in the UK is behind this sense of urgency among would-be tenants, with spokesman for Ocean Finance Ian Williams saying that people are facing a lot of pressure to find a house.
"If you’re planning a long-term let then do some careful thinking about how your situation might change during your tenancy and ensure you have enough space, that the property is in the right location and well maintained. And importantly, be sure that you can afford it," he remarked.
The Association of Residential Letting Agents' managing director David Cox recently observed that increases in house prices around the UK, coupled with tighter rules around mortgage lending, have both helped to propel rental demand forward.
Research from the organisation revealed that 27 per cent of member branches recorded hikes in monthly rental costs for the period between December and January, with just four per cent registering a drop.