A recent survey snapshot suggests the number of rental homes across the UK rose to a record high in 2020 with letting agents managing over 200 properties on average. The survey also shows that even as many landlords and property investors chose to sell up, only around one third of tenants experienced rent rises.
As the end of a difficult year comes into sight, recent research delivers an unusual result in the UK's rental market; average rents in countryside locations rose in October, while city properties proved less popular with tenants and rents fell. This dynamic, which is a reversal from the same time a year earlier, means the difference in average rents between the two locations has narrowed.
As if the uncertainty surrounding the coronavirus pandemic isn't enough for the UK's army of renters to cope with, with the UK set to sever ties with the EU from January 1 2021, the country could face a glut of returning expats seeking a rental home while they decide on their next move.
Handing over up to 5 weeks of rent when moving into your new rental home can leave your bank account looking a little sorry for itself. Maximise your chances of getting your deposit returned to you in full by taking a look below at some common pitfalls.