Considerations for the modern lettings market

The rental market has scarcely been as popular as it has been in recent years. Even in the face of numerous governmental schemes to stimulate the ailing sales market, it remains flat whilst the letting side strives. This has made for a number of changes to the way the lettings industry is run, making it more important then ever to find the right letting agent before parting with any cash.

So what changes have been witnessed in the past few years, and what is there to bear in mind before signing contracts on a new rental property?

Firstly, the idea of short-term-fix letting is an old one, with people more likely than ever before to stay in their rented home for long periods of time. Whilst just a few years ago people would rent as a lifestyle choice or just for a few months whilst deposits and mortgages were sought, it's an incredibly different story today.

Long-term lets are where many are going. For this reason, give careful consideration to your letting agent, because you may end up being with them for quite a long time. If you find a good, reputable agent it will make for a positive business relationship. If you end up with a bad one, it can sour the whole process and end up reflecting badly on the house or flat itself.

It's also worth doing a bit of homework beforehand. Check to see whether the letting agency is registered with some of the official agencies. Whilst this is no guarantee of quality, it will give a much better idea of what to expect and whether they play by the prescribed rules. After all, the lettings market does not have the same regulations as sales, so without the law's help, you'll have to go it alone.

Once all this is done, you should be free to choose a letting agent with confidence and be sure you've made the right decision. So to save money and piece of mind, do a little groundwork beforehand and bear the current circumstances firmly in mind.

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