'Bidding wars' investigated in new survey
So-called 'bidding wars' have hit the headlines in recent months, with a new survey by Queen Mary University in London and the University of Sheffield, now attempting to shed light on the application process for rental homes in the capital.
Latest figures from Rightmove suggest there are now 17 households competing for each rental property advertised, with Labour, in its election manifesto, claiming prospective tenants are being encouraged to bid above advertised rents to secure a home.
It promised to ban such 'bidding wars', with the NRLA agreeing the tenants should not be actively encouraged to bid above asking rental prices.
It has been suggested that the process is contributing towards rising rents in London, and researchers are keen to analyse whether such bidding wars are common - and that tenants are being encouraged to bid more than the advertised rate for properties by another party, for example a letting agent.
NRLA members are being encouraged to complete the survey, which will take between five-seven minutes.
Researchers are also keen to carry out extended interviews with landlords or agents and you will have the option to take part if you'd like to do so. A report based on the findings will be published either later in the year or early 2025.
Click on the link below for details on how to access the survey, which closes on 1 September.
Private rental market dynamics and prospective tenant bidding
Last updated: 25/07/2024 at 16:18 - 223.50 KB
