Nottingham Letting Agent Property Blog
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More Home Sellers Choosing to Rent Short-Term before Buying
The property market has changed substantially over the last couple of years or so, and whereas in the past people would expect to be able to sell and buy a new property on the same day, nowadays many are finding this somewhat tricky to achieve. Increasing numbers are choosing to look for short-term rental accommodation, rather than lose a sale. Buyers are often able to dictate the terms, and many more are changing their minds at the last moment and pulling out. A recent report by a conveyancer found that one in three property sales fell through during the first six months of this year.
It can be highly inconvenient to have to essentially end up moving twice, and can be a lot more expensive as some possessions may need to be put into storage, but for those people who are determined to move home it can be well worth it. Another disadvantage faced by people choosing to go down this route is that they are tied into a tenancy agreement, and most standard agreements handled by letting agents in Nottingham tend to be for a six-month minimum period. Some landlords are proving to be amenable to the idea of shorter contracts, and are able to charge a premium, but this does depend on the time of year, as this can prove tricky during the most popular letting months. One advantage of moving into short-term rental accommodation is that people then have the luxury of moving into their new home gradually.