Yorkshire letting agents have said that in the past month the gap has widened between people wanting to rent and available stock, which necessarily means that many tenants are unable to find a home.
Landlords have more options than ever, being able to choose only the best tenants, with professional employment and flawless rental history. And, of course, with ten people chasing every property, vacant properties aren’t staying vacant for very long.
The steep rise in tenant applications has been seen particularly in Leeds, York, Wakefield, and Harrogate.
With Leeds tenants staying in their properties for longer, coupled with this immense dogfight for professional property to rent in Leeds, the situation for young people with no rental history, nor the money to put down a deposit on a new home, it wouldn’t be surprising if the record number of people still living with their parents were to increase yet more substantially in the coming years. Not to mention the inevitable rising costs of renting driving more and more tenants out of the market. Hard times ahead for tenants, it seems.