Landlords are pricing their properties at above market rate due to new laws brought in earlier this year – meaning tenants who offer at the asking price may end up paying more than they need to.
Since May landlords and letting agents in England are banned from accepting rent offers above the advertised price, under the Renters’ Rights Act.
And industry insiders say that some are choosing to advertise at “absolute ceiling” prices as a result.
Shorts
This is because they can still accept bids below the listed price if their asking price proves too optimistic, but if they list for too low then they may end up receiving less money than they could have.
