Wednesday 2 August 2023

Agents Accused of Over-inflating Rent Valuations in South London

 An online lettings platform has warned that some landlords in South London are being given "too good to be true" promises of rent increases by letting agents keen to win their instructions. You'd be forgiven in this market though as rents are ASTRONOMICAL at the moment as we approach the summer peak!

However Hello Neighbour says that according to its data, there is on average a 15% drop from the initial listed rent compared to what is actually agreed as the rental price by the tenant. The platform says that this is a common practice in South London, with the highest drops in price being seen in central London, South West London, and North West London.

I hear this time and again from landlords that have switched to Hello Neighbour from high street agencies, they tell us that they were promised unrealistic rent increases by their agents, only to find that the market simply wasn't there.

Dearlove advised landlords to make sure that their advertised rent is supported by a wide range of data and that their agent can access and process today's huge tenant demand quickly. If you're not sure whether your rent is realistic," he said, "get a second opinion from a reputable letting agent or use a free online valuation tool.

I am an experienced estate agent in South London, and I would be happy to help you get the best possible (realistic) rent for your property. I can provide you with a free online valuation, and I can also help you market your property to the right tenants. Are you curious about the value of your property in South London? Why not drop me a line or check out my free online valuation tool? 

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