Gazumping ‘pushing up rent costs for tenants’

Gazumping is pushing up rents in England and Wales as the average cost to tenants reached £696 in May, according to a survey.

Rising tenant demand has led to some offering above the asking price to rent a home, LSL Property Services said.

The average cost of renting a home has risen for four consecutive months, its analysis suggested.

But more than one in 10 tenants in the UK missed or were late paying their rent in May, it also found.

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