Huge demand for rentals stretching agents to limit, says tech boss
Demand in the UK is up by almost a quarter in a year as rents hit record highs and competition amongst wannabe tenants intensifies.
Demand for rental homes in the UK is up by almost a quarter (23%) in a year as rents hit record high and competition among wannabe tenants intensifies.
The number of people searching for homes to rent is up 23% on this time last year, according to Rightmove, driven in part by some would-be buyers putting their plans on hold in the hope that mortgage rates will drop in the new year.
Meanwhile asking rents on new listings are up by almost a third since 2019, and some people are facing increases of up to 60%.
ONLINE
Philip Farrell (main picture), chief commercial officer and co-founder of Offr, says: “Increasingly letting agents are having to process large numbers of tenant applications and many of these, carried out online.
“We have created technology for estate agents and landlords to process all of their lettings through a button on their own website.
“Our new product for the lettings market helps agents manage a significant volume of rental applications with ease.”
STREAMLINE
Offr captures all interest in a property and streamlines the application process from start to finish while its letting technology allows tenants to define their own questions and terms for applicants – providing transparency from the outset.
Farrell adds: “We know that there are often many applicants for properties when it comes to renting in today’s climate.
“Through the Offr button, documentation can be requested from applicants in advance including references from previous landlords – allowing you to narrow down your list of applicants and find the most suitable tenant for your property.”
