Leaders report shift in the lettings market

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by Kay Murchie

According to Leaders, the letting agency, a shift is being seen in the lettings market, whereby one that was previously more favourable to tenants over the last few months, is now becoming more favourable to landlords.

The agency suggests that as the sales market improves, they expect to see less negotiation on rents from tenants as supply and demand even out.

Paul Weller, Leaders’ MD, said: “Whilst it is still more of a tenants’ market at the moment, things have levelled out since the beginning of the year. The number of properties available is decreasing over the numbers at the end of last year and the beginning of 2009, and tenant demand is rising“.

However, Leaders believe good presentation of a property is vital when wanting to attract a higher rent in today’s market.

According to Mr Weller, “poorly presented properties just won’t let at any price unless the landlord compromises on the quality of applicant which in the current market is not recommended and could be a false economy“.

However, Mr Weller cautions that tenants looking to negotiate should act quickly in order to take advantage of the current market, since activity is improving in the sales market so supply and demand are likely to become more balanced, and, therefore, tenants may not have as much choice or bargaining power in the next few months.