According to the Homelet Rental Index data for April, average UK rents have risen again, up 0.3% since February 2023.  The national rental average for the UK is now £1,184 pcm, but for Reading and the surrounding 4 miles, the average rent is much higher, now standing at £1,651 pcm.  

Stock is still really low, and is whizzing off the books as soon as it is listed, often before the details have even gone online.  Due to the scarcity of available properties, the PRS market is likely to stay highly competitive, so landlords must be alert, and tenants should be aware that finding a rental home is proving to be a difficult effort for many. 

Rent guarantee insurance is becoming increasingly important for landlords and letting agents as rents continue to rise.  While we take great care to reference potential tenants thoroughly at the start of the letting process, this really is only a snapshot in time, and as we all know, anything can happen.  Everything that has happened over the past few years has cemented the fact that fate can change at the toss of a coin, and having a secure insurance policy in place to cover any eventuality is paramount to many Reading landlords during these uncertain times.

We urge prospective tenants to register their details so that they can get to see new stock the moment it arrives - waiting until a property hits the website or property portals will mean missing out on a good number of instructions. It is also imperative to have all of your paperwork ready so that you can make a quick decision as soon as you see a property that is suitable for your requirements. We have a lot of checks to carry out when an offer is progressing and we have a short space of time to get the information we need (we can only secure a rental home on a holding deposit for 15 days) so for anyone who works for a company or institution where it may prove harder to gain the relevant references, try to ensure you have paved the way by contacting HR and ensuring that you have the best person's email for our referencing company to get in touch.  

According to the Homelet Rental Index data for April, average UK rents have risen again, up 0.3% since February 2023.  The national rental average for the UK is now £1,184 pcm, but for Reading and the surrounding 4 miles, the average rent is much higher, now standing at £1,651 pcm.  

Property Rents in Reading by Number of Bedrooms

1 bedroom

£1,174 pcm

2 bedrooms

£1,711 pcm

3 bedrooms

£2,240 pcm

4 bedrooms

£2,302 pcm

5 bedrooms

£3,113 pcm

Stock is still really low, and is whizzing off the books as soon as it is listed, often before the details have even gone online.  Due to the scarcity of available properties, the PRS market is likely to stay highly competitive, so landlords must be alert, and tenants should be aware that finding a rental home is proving to be a difficult effort for many.  

Rent guarantee insurance is becoming increasingly important for landlords and letting agents as rents continue to rise.  While we take great care to reference potential tenants thoroughly at the start of the letting process, this really is only a snapshot in time, and as we all know, anything can happen.  Everything that has happened over the past few years has cemented the fact that fate can change at the toss of a coin, and having a secure insurance policy in place to cover any eventuality is paramount to many Reading landlords during these uncertain times.

We urge prospective tenants to register their details so that they can get to see new stock the moment it arrives - waiting until a property hits the website or property portals will mean missing out on a good number of instructions. It is also imperative to have all of your paperwork ready so that you can make a quick decision as soon as you see a property that is suitable for your requirements. We have a lot of checks to carry out when an offer is progressing and we have a short space of time to get the information we need (we can only secure a rental home on a holding deposit for 15 days) so for anyone who works for a company or institution where it may prove harder to gain the relevant references, try to ensure you have paved the way by contacting HR and ensuring that you have the best person's email for our referencing company to get in touch.  

Documents required for Right to Rent Checks

Document Guide for Right to Rent Checks in the UK

 

Find out all of the documents that you will need in order to satisfy our Right to Rent checks prior to renting a property.

Legislation Update

The updated How to Rent: Checklist for Renting in England guide is now available.

The revised guide has been significantly redesigned and includes extra information for tenants on the requirements to provide an EICR, the installation of smart meters, and making reasonable accommodations for tenants with impairments.

  • For new tenancies, all tenants must be presented with the most recent edition of the guide.
  • For continuous or existing periodic tenancies, there is no need to serve a new guide
  • The guide should be presented at tenancy renewal.

The Guide may be provided to the tenant in hardcopy or, where the tenant has notified the landlord or agent of an e-mail address at which the tenant is happy to accept service of notices and other documents given under or in connection with the tenancy, by e-mail, according to Regulation 3 of The Assured Shorthold Tenancy Notices and Prescribed Requirements (England) Regulations 2015.

This means that unless the tenant has expressly accepted to service by email and provided their email address, such service may be ineffective and the conditions for a valid Section 21 notice may not be met.

How to rent and how to let in the UK guides

The most recent How to Rent Guides are available on the Government website at the following addresses:

FOR TENANTS: https://www.gov.uk/government/publications/how-to-rent

FOR LANDLORDS: https://www.gov.uk/government/publications/how-to-let