Capital’s rental crisis
Three-fifths of renters in London feel their estate agent has lied about available properties and created fake bidding wars
The capital tops the UK’s list of angry renters: half of London-based tenants say the current rental system is not fit for purpose in the city’s ruthless property market
New research among 2,000 UK adults by online estate agent LetBritain has revealed the sentiments of Britain’s rental population. It found:
Over two-fifths (45 per cent ) of London renters dubbed the marketplace “ruthless and unethical” with agents allowing gazumping to become a commonplace practice
50 per cent of those in the capital say the current rental system is not fit for purpose as it cannot cater to the demand and speed of the market – well above the UK average of 37 per cent.
Furthermore, a massive 61 per cent of renters in London feel they have been misled by an estate agent regarding the competition they faced from other renters.
London’s population of tenants feel the city’s property rental market is ruthless and unethical, new research by online estate agent LetBritain has revealed. The independent, nationally-representative study among over 2,000 UK adults uncovered mass negative sentiment from tenants towards the current property rental system in the UK, with London far exceeding national average when it came to renter rage.
With roughly 4.5m rented households across the UK, a huge number of people are evidently disillusioned by the rigmarole of securing a property through high street estate agents.
In total, 40 per cent of renters said they think the process of securing a rental property is ruthless and unethical, enabling people to gazump other prospective tenants with unscrupulous practices.
This number rises to 45 per cent among Londoners.