Campaign launched to tackle Bristol's rent bidding wars

Offering over the asking price is now common practice for people renting in Bristol.

A campaign is being launched to end the practice of 'bidding wars' in a city's rental market.

With demand for properties in Bristol outstripping supply, prospective tenants are regularly being asked how far over the asking price they'd be willing to pay.

Acorn is a union which takes up issues for the community.

Its members have asked letting agents in the city to sign a pledge to stop so-called bidding wars taking place.

The practice meant Sophie Ingold, 36, ended up paying £800 a month for a one bedroom flat in the city which had been advertised at £750.

She said: "It did force me to offer more and I've had to work extra jobs to afford it."

Sophie Ingold, 36, has had to take on part-time work to afford her rent.

Ms Ingold said the extra £50 a month she pays would have been enough for two weeks' worth of food shopping.

She works a full-time job as a prison healthcare manager, and has to take on part-time work in the evenings and weekends to afford her rent and bills.

Ms Ingold said: "Landlords should just stick to the asking price. I just don't think it's moral forcing people to push themselves to pay more and putting people in difficult situations."

After finding a flat she liked, Ms Ingold said she was shocked when she read a question on the application form which said 'What is the maximum monthly rent you are prepared to pay?'

She said it made her feel she had to offer extra to secure the property, and it is a familiar story in Bristol, according to Acorn.

Laura Stone, 31, is a member of the union, she added: "It's a nationwide housing crisis, and it's just put people in the position where everyone is so desperate to put a roof over their heads landlords and letting agents have unfortunately taken advantage of this and seen this as a route to maximise profits and make even more money."

Laura Stone, 31, is a Financial Adviser and a member of the union Acorn.

Members of Acorn have marched to several letting agents in the city and asked them to commit to never asking questions which might encourage prospective tenants to offer more money.

Ben Giles runs The Balloon Letting Company which has signed up to the campaign.

However, Mr Giles said it is very difficult to stop people paying over the odds, because renters sometimes suggest it themselves.

"It's fairly common for people to approach us with an elevated offer now. So you don't necessarily need to have a bidding war for it to rent over asking rent anyway.

"People will quite commonly come in with £25 or £50 over asking rent and people who've been looking for a long time know to do that now."

Ben Giles has signed up to the campaign to not encourage bidding wars.

Renting a room in a house share in Bristol can cost up to £1000 a month.

A spokesperson for Bristol City Council said: "In July 2022 we launched the Living Rent Commission to address the rising costs of renting in Bristol as well as the lack of security that renters have in the private rented sector.

"Following the publication of the Living Rent Commission report, we will consider our next steps in relation to what actions we are able to take to implement the recommendations, including lobbying the government for new powers."