One In Four Tenants Choose Rental Property After Just One Viewing
A new survey conducted by a leading UK finance company has discovered that over 25% of tenants decided on their rental property home after just a single viewing.
Less than half of the people polled said they viewed their property twice before deciding on it.
33% of tenants who agreed to be surveyed revealed that they spent less than 30 minutes in the rental property before they decided to rent it.
Ian Williams from Ocean Finance stated: “Maybe after waiting several years for the financial crisis to end and the housing market to take off again, most people know exactly what they are looking for. But it’s quite shocking that so many people spend less time on choosing their new home than they would watching EastEnders or Coronation Street.” Mr Williams suggested that the apparent lack of viewing time is a result of the speed of the housing market, meaning tenants risk missing out on a rental property if they fail to act quickly and decide to request a second viewing.
A typical tenant applicant normally views between four to six rental properties before deciding, but tenants in London tend to look around five to seven rental properties in the capital before making a decision.
Ocean Finance found around 60% of people only look at prospective properties during daylight hours and just 35% would also request to view in the evening as well.
The survey revealed that it is the younger generation who tend to be more thorough when checking out a rental property and they were also less likely to be put off by the monthly rental costs.
10% of 18 to 24-year-olds visited their current rental property up to 5 times before deciding to rent it, while 41% of 25 to 34-year-olds are likely to see a property both in the day and evening. Only one in 50 tenants aged 35 and over said they have done the same.
Mr Williams claimed it makes sense for tenants to check rental properties at different times of the day as obvious problems are easier to identify and viewing at different times of the day provides a better understanding of the surrounding neighbourhood too.
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