"For today’s letting agents, the continued adoption and evolution of technology to help ease operational requirements remains of vital importance, as it not only allows them to operate better as a business, but it drastically improves the customer service levels they can provide to renters and landlords alike"
- Sam Humphreys - Dwelly
Nearly a third of UK renters describe the experience of finding a rental property as no better than average, according to new research by Dwelly. The lettings and success planning firm found that the most common complaints related to excessive paperwork and poor communication—though letting agents may not be the real cause of the problem.
A survey of over 1,000 UK renters commissioned by Dwelly found that 30% rated their most recent rental experience as average or worse, with some describing it as poor or very poor. The primary reason cited for frustration was the time taken to secure a property. Among respondents, 44% said it took them more than four weeks from the beginning of their search to signing a tenancy. An additional 22% reported the process took between two and four weeks.
The most frequently identified issue was the difficulty in finding a suitable property, with 60% listing this as the hardest part of the process. Once a suitable property was identified, the next biggest obstacles were the administrative requirements, such as ID verification and referencing, followed by communication issues with letting agents.
Overall, 40% of renters said they found the experience difficult, while just 12% described it as easy.
Sam Humphreys, head of M&A at Dwelly, said: “The rental market landscape has evolved dramatically over the years, but despite the many improvements made, many renters continue to find the process of securing a property challenging and for the same reasons they did twenty odd years ago. As a result, as many as 30% of renters find the process of finding a rental property average at best, but it’s fair to say that this isn’t due to a lack of care on the side of letting agents.”
He continued: “Demand for rental homes has exploded in recent years as soaring house prices have forced many to rent for longer. At the same time, the government’s consistent attack on buy-to-let landlords has reduced the level of stock available and so it’s no surprise that finding a suitable property is the biggest obstacle facing today’s renters.”
“We’ve also seen the level of paperwork and compliance requirements increase, which have put further pressure on letting agents who are already dealing with a high volume of applicants. The result of this operation strain is a perception amongst renters that letting agents aren’t on the ball and are poor at communicating, when the reality is they simply don’t have enough hours in the day.”
“For today’s letting agents, the continued adoption and evolution of technology to help ease operational requirements remains of vital importance, as it not only allows them to operate better as a business, but it drastically improves the customer service levels they can provide to renters and landlords alike. This is why Dwelly places a strong emphasis on supporting letting agents with proven technology, enabling them to deliver faster, more efficient service.”
