One in three UK tenants expect a swift move-in schedule for their new rental property, within two weeks of their first inquiry to a landlord, according to new research from The House Shop.
31.2 per cent of tenants aim to move in within a fortnight, although 63.8 per cent have a slightly more relaxed timescale, aiming to move in within a month. The desire for such a tight move-in schedule suggests a lack of perception of the lengthy amount of work this requires of landlords. Many property investors are only part time landlords, and may take up to three days to reply on a online platform for a tenancy request, delaying the process.
Nick Marr of The House Shop explained: ‘Even if the landlord replies to the enquiry instantly, the landlord and tenant will need to arrange a time for viewing that suits both parties, conduct tenant referencing checks, sign contracts, manage deposits etc. before the new tenants can actually move in,’ he explained. Leaving just two weeks to get from start to finish is definitely achievable, but leaves little wriggle room to handle delays.’
Close analysis of the research reveals a peak in the number of last minute enquiries during September. This is likely due to an influx in student tenants looking to find a property before the start of the academic year. This hypothesis is supported by the fact that the majority of last minute enquiries for September only are concentrated around university cities such as Birmingham, Manchester, Edinburgh, Glasgow, Durham and Newcastle.
The research also offers valuable advice for when it is best for landlords to advertise their properties to avoid void periods. The optimum time is roughly a month before the date that the property will next be available, as this matches the expected move-in timeline for many tenants.