More than a third of tenants looking for a new home aren’t organised to move, despite the fiercely competitive rental market.

Research by tenant app tlyfe reveals that while 90% were prepared to commit to a longer tenancy to secure a property, 34% couldn’t move right away, 32% didn’t have a rental deposit already saved and 45% didn’t have a reference prepared from a previous landlord or letting agent.

tlyfe suggests this inability to act immediately is putting tenants at a severe disadvantage at a time when its survey of letting agents reveals that 25% have 10 or more tenants chasing each rental property. Unsurprisingly, 98% of agents believe it’s important that tenants are able to move immediately when looking to rent.

Unprepared

CEO Adam Pigott says simply applying for a rental property isn’t enough to secure one. “Despite this, a large number of tenants are entering the market unprepared, having failed to accumulate a deposit, organise paperwork and, in some cases, they aren’t even ready to make their move immediately,” he adds.

“This failure to prepare will put you at a severe disadvantage and will often see you overlooked by lettings agents.”

Verified

tlyfe uses independent verified data to validate tenant ID, Right to Rent, and rental affordability, which a landlord or agent can download via a sharable code. If the property is ready to move in, the tenant can sign the contract and secure the property immediately.

“In fact, we’ve had a number of cases where tenants have done so before even viewing the property, with the agent turning up to the first viewing with a contract and invoice, allowing the tenant to sign on the spot and move straight in,” says Pigott.

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