What is Gazumping
Traditionally, the term gazumping has been tightly associated with the residential property sales sector.
However, with the low approvals of mortgage approvals, more and more people are relying on the rentals for accommodation. As a result, some analysts claim that the average cost of rentals have gone up fourth month in a row.
And, according to a new BBC article, the rising number of tenancy applicants are leading to gazumping in the lettings sector with rental properties are being let above asking prices.
Sarah Akkus, Managing Director of Appleton Estates commented: “At Appleton Estates, we would like to ensure that both our landlords and the tenants get a fair deal inline with the current rental property market in the area. To prevent any inconvenience to either party, we aim to get the price right in the first place.”
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