A new study from Zoopla has revealed that in the year to June 2024, rents across the UK rose by an average of 5.7%—the slowest annual increase recorded since September 2021. However, despite the cooling market, renters are still facing significant challenges.
With the rental market still facing significant challenges, property expert Jonathan Rolande, who has over two decades of experience, offers some practical advice for those struggling to secure affordable housing.
“There is definitely a bit of relief in the market, but it’s far from easy for tenants,” Jonathan answered. “The best thing renters can do right now is to be proactive and prepared. Start searching early, ideally before tenancy ends, and work with multiple agents.”
Jonathan stresses the importance of organisation in a competitive market. “Be prepared with the documents ready—payslips, job references, and landlord references. Agents and landlords are more likely to prioritise those who can prove their ability to pay and be reliable tenants.”
He also encourages tenants to widen their search area and be flexible with their expectations. “While the major cities are still experiencing high demand, look at surrounding areas where rents might be more affordable. In some cases, being willing to move just a bit outside the city centre can open up more opportunities.”
Jonathan Rolande notes that the disparity between different regions only adds to the complexity. For example, while rents have slightly decreased in areas like Nottingham, Brighton, and London, other cities, such as Birmingham and Derby, are still experiencing rising rents. This makes navigating the market even more challenging for tenants.
With rents continuing to rise, albeit more slowly, he believes that tenants need to be proactive and strategic to avoid being caught out by escalating costs.
Here, Jonathan shares 10 tips to help renters beat the price rise and secure a more affordable home in today’s competitive market.
Negotiate Your Rent: “Don’t be afraid to negotiate, especially if you’re a long-term tenant or moving into an area where rent prices are stabilising. Landlords are more likely to offer discounts if they see you as a low-risk, reliable tenant.”
Look for Properties with Lower Upfront Costs: “Some landlords offer deals on deposits or the first month’s rent. Search for properties that allow for smaller deposits or spread-out payment options. This can ease the financial strain when moving.”
Share the Load: “Consider shared housing options. Splitting rent and bills with flatmates can significantly reduce the overall costs. It’s a smart option in high-demand areas where rents are steep but check its allowed first.”
Move Slightly Out of City Centres: “If people are willing to move a little outside the main city hubs, they can find more affordable rental options without sacrificing too much in terms of convenience.”
Hunt for Energy-Efficient Homes: “Look for properties with strong energy performance ratings (EPC). These homes can save hundreds of pounds in heating and electricity costs, particularly during winter.”
Time Your Move: “Rental markets tend to be seasonal, with rents peaking in the summer months when demand is highest. If possible, time your move for autumn or winter when competition decreases and landlords are more open to negotiation.”
Leverage Local Letting Agents: “Build relationships with local letting agents—they often know about upcoming rentals before they hit the market. This gives people an edge, particularly in competitive areas.”
Consider Smaller, Independent Landlords: “Smaller landlords tend to be more flexible when it comes to rent negotiations, repairs, or upgrades. They are also more likely to prioritise tenant retention over maximising rent increases.Open Rent is a good site to check”
Reduce Costs with Longer Tenancies: “Ask for a longer tenancy agreement. Landlords appreciate the stability of longer tenancies and may be more inclined to offer better terms, including frozen rent rates for the duration of the contract.”
Check Out Local Rental Assistance Programs: “Some councils offer grants or rental assistance schemes for low-income tenants. Do your research—these programs are often underutilised but can provide crucial financial support.”
“Although renting can seem like a waste of money, many tenants prefer having one fixed amount each month that doesn’t change with interest rates. There are no unwelcome repair bill shocks either as things like roofing, plumbing and boilers are covered by the landlord. That said, it is vital to find a property with a decent landlord and letting agent – one you feel comfortable with, long term.”
Jonathan Rolande