Rental Market Reality Check: It’s Not What It Was
Why today’s rental market demands a fresh approach from landlords.
The rental market is always changing—but right now, it’s changing faster than many landlords realise. Even compared to six months ago, the landscape has shifted.
We’re still seeing landlords expecting the good old days: a flood of enquiries, multiple viewings booked instantly, and a “perfect” tenant ready to move in tomorrow. Unfortunately, that’s not the norm anymore.
So, let’s take a moment to reset. This is your reality check—what’s really happening in the South Devon rental market, and what you as a landlord need to do to stay ahead.
The Tenant Pool Has Changed
In the past, listing a rental might have meant a deluge of enquiries. Now? That flood has slowed to a steady trickle. And the type of tenant looking has changed too.
People are more cautious about moving—whether it’s due to rising costs, uncertainty, or just the hassle and expense of relocating. Unless they have to move, many tenants are choosing to stay put.
As a landlord, this means being more open-minded about who might be the right fit for your property. The pool is smaller, yes—but there are still great tenants out there. You just might need to look a little differently.
Still expecting 30 applicants in 24 hours? You may be in for a surprise.
Realistic Rents Get Results
One of the biggest blockers to finding the right tenant? Unrealistic rent expectations.
Many landlords still have a dream figure in mind. But pricing a property too high doesn’t just mean it sits empty—it could mean you miss out on your ideal tenant altogether.
At Bright Star, we aim to give landlords a choice of great applicants. That means setting a rent level that attracts the right people—not just the ones willing to stretch themselves financially.
“We want to give you options—ideally 3 or 4 strong candidates—not just one person who can barely afford it.”
Setting a fair, competitive rent gives you a wider pool of suitable applicants. And from that, you get to choose—not just accept whoever turns up.
Don’t Settle—But Do Be Sensible In This Rental Market
Every landlord has a “dream tenant” in mind. And while there’s nothing wrong with having standards (we encourage it!), there’s a difference between ideal and unrealistic.
Sometimes, it’s about compromise. Maybe they don’t tick every box—but they’re polite, reliable, well-presented, and have great references. That’s a solid foundation for a successful tenancy.
Holding out for perfection might just mean your property sits empty. And in this market, void periods can be far more costly than accepting a good tenant who might be 90% of the way there.
We Don’t Just Book Viewings—We Pre-Qualify People
Some agents (particularly the larger corporates) will simply throw open the doors, show 20 people round in a day, and wait to see who fills in an application.
That’s not how we work.
At Bright Star Lettings, we talk to people. We ask questions. We get a feel for who they are—not just on paper, but in person. How they present themselves. What their story is. Whether they’re a good fit for your property.
“We’re not just showing people around a house. We’re interviewing for your next tenant.”
This approach takes more time. But it pays off. You get better tenants—and we get fewer issues down the line.
The Agent Advantage In This Rental Market
In a quieter market, the skill of your letting agent matters more than ever.
We’re here to price your property realistically, market it strategically, and find the right people—not just anyone who clicks “book a viewing.”
And unlike many agents, we don’t take a one-size-fits-all approach. Whether you need help marketing your property, finding tenants, drafting paperwork, or managing the whole thing—we can tailor our service to suit you.
With our pick-and-mix service model, you only pay for what you need.
Is It Time to Rethink Your Approach?
The rental market is evolving—and landlords need to evolve with it.
If you’ve found letting a bit harder recently, or you’re getting fewer enquiries than expected, it’s not just you. It’s the market. But that doesn’t mean you can’t still succeed.
With a flexible mindset and the right agent by your side, there are still excellent tenants out there—and plenty of opportunity to make your rental property work for you.
Whether you’re about to list a property or it’s been sitting on the market with little interest, we can help.
We offer:
- Free market appraisals
- Honest rent advice
- Thorough tenant vetting
- Flexible landlord support packages starting from just £75