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London renters compete for homes as stock levels sink

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Prospective renters are resorting to unusual methods to try and win favour with landlords, City A.M. reports, as stock levels for homes have diminished. The relaxation of coronavirus restrictions has led to a surge in demand for rental homes in the capital, while estate agents report historically low levels of stock. High demand has seen rents surge past pre-pandemic levels and London landlords are once again in a position to be picky. Data from Chestertons found that the average rent has soared 21% to £751, compared to 2020 when the average cost for renters was £589. As competition for properties heats up, flat-hunters are trying everything to secure tenancies. Pet CVs, Powerpoints with couples’ honeymoon pictures, and exaggerated career backstories are just some of the ways Londoners have been trying to secure new addresses, according to landlords and estate agents. Renters have been trying to prove their suitability to landlords by sending in AirBnB reviews and “very lengthy biographies about how much they like running and coffees by the river,” according to Richard Davies, head of lettings at Chestertons.

City A.M. London Evening Standard

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