Navigating a tougher lettings landscape
This year, the lettings landscape—particularly for HMOs and student HMOs in Bristol—has become significantly more challenging. We’re seeing more and more properties sitting on the market for longer periods, even after landlords and agents have reduced rents in an attempt to attract tenants. For many, it’s an incredibly frustrating and financially stressful time, with void periods mounting and returns shrinking.
At KPA, we’ve been watching this unfold closely. We’ve spoken with numerous landlords who are understandably at their wits’ end. Some have even described the experience as “soul-destroying.” They’ve done what they thought was right—lowering rent, listing with big-name agents, waiting for enquiries—but the results just aren’t there. Several of these landlords have since made the switch to us, and we’re proud to say we’ve helped them turn things around.
reducing rents should be a last resort...
The problem with reducing rents is that it sets a precedent that’s hard to reverse. It often triggers a race to the bottom—one that’s not only unsustainable for landlords but also damaging to the wider rental market. While cutting rent can seem like the only option, it’s rarely the best one. At KPA, we treat it as a last resort, one that’s backed by “science” supported by a full whole of market comparables report, in real time – no “guestimations.”
Instead, we take a proactive, strategic approach. We focus on what can be changed—not just the price. That might mean tweaking how a property is presented, improving marketing, highlighting different features, or advising on cost-effective upgrades to make a property stand out in a crowded market. It’s all about helping our landlords differentiate their properties without breaking the bank.
