Renters frustrated by delays and paperwork, but agents unfairly blamed
The latest analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has found that almost a third of renters rate the process of finding a rental property as average at best, with the laborious process of completing paperwork and poor communication from letting agents ranking as the biggest pain points.
A survey of over 1,000 UK renters, commissioned by Dwelly, found that when asked to rent the overall experience of securing their most recent rental property, 30% rated it as average at best, with some going as far to say it was poor or very poor.
One key insight from the survey suggests why this may be the case, with 44% of respondents stating that it took them more than four weeks to secure a rental property once they had begun their search.
A further 22% stated that it took between two to four weeks, demonstrating the hard task that face today’s renters when looking to secure a roof over their head.
The key reason for such a lengthy timeline? 60% of respondents ranked the ability to find a suitable rental property as the most problematic part of securing a place to live.
Once they have managed to do so, the laborious application process and the paperwork involved, such as ID checks and referencing, ranked as the next toughest aspect of securing their rental property, with poor communication from letting agents also making the top three.
No surprise then, that 40% of renters found the process of securing a rental property difficult, with just 12% stating it was an easy experience.
Sam Humphreys, Head of M&A at Dwelly, commented:
“The rental market landscape has evolved dramatically over the years but despite the many improvements made, many renters continue to find the process of securing a property challenging and for the same reasons they did twenty odd years ago.
As a result, as many as 30% of renters find the process of finding a rental property average at best, but it’s fair to say that this isn’t due to a lack of care on the side of letting agents.
Demand for rental homes has exploded in recent years as soaring house prices have forced many to rent for longer. At the same time, the government’s consistent attack on buy-to-let landlords has reduced the level of stock available and so it’s no surprise that finding a suitable property is the biggest obstacle facing today’s renters.
We’ve also seen the level of paperwork and compliance requirements increase, which have put further pressure on letting agents who are already dealing with a high volume of applicants. The result of this operation strain is a perception amongst renters that letting agents aren’t on the ball and are poor at communicating, when the reality is they simply don’t have enough hours in the day.
For today’s letting agents, the continued adoption and evolution of technology to help ease operational requirements remains of vital importance, as it not only allows them to operate better as a business, but it drastically improves the customer service levels they can provide to renters and landlords alike.
This is why Dwelly places a strong emphasis on supporting letting agents with proven technology, enabling them to deliver faster, more efficient service.”
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