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Amongst the report's charts, statistics and drawn out conclusions, it identifies one very interesting key point - tenant's from all age groups, regions and income groups have the same primary consideration - affordability.
Nearly two thirds of the 3,500 respondents marked up affordability as their main concern when picking their rental property.
It appears cost overrides all other decision factors, including location and space.
The flat might be perfect, but if the rents too high....
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You wouldn't believe how long it took to negotiate a £10 pcm rent rise this month on a flat currently on £840 pcm - that's just 1.19% - barely in line with inflation. I started off at double to give myself room for negotiation and would you believe it: The tenant wanted to move out for just a £20 increase!
I demonstrated that the average rent for 1-bed flats in our area was over £900 but the tenant was still incensed at the very idea of an increase and claimed everyone they knew was sill paying the same rent after 3/4/5 years! (More fool those landlords if that were true). Kept saying that the £3.5k invested last year on a new boiler was for my benefit?!? I guess in this world there are those that take and then take some more!
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