With the rental market coming back to life now that restrictions have been lifted and people are moving again, we look at some of the key reasons why now is the right time to let your home!
Stock is Down
Whilst the property market has been back to normal for a while, there are still shortages of stock in many key submarkets. This is especially the case for larger properties for private renters and HMOs which are in very high demand. This lack of stock means that the price you are able to achieve is higher than it would otherwise be in a more normal market with a large amount of stock available.
Corporate Demand is up
With people travelling again and with more people going back into offices, the demand for housing from corporations, both for the holiday rental market and from companies looking to house their executives near the office has increased massively. This means that larger blocks with multiple apartments available are often let to a single corporate occupier, allowing a landlord more security and peace of mind for their block.
More Properties going to Best and Final Offers
Given the lack of stock and the competition for properties within the market, we are finding that more and more properties are going to best and final offers within days of being listed. This means that we are able to achieve higher rents and fantastic results for our clients, taking advantage of the increased competition for certain kinds of housing.
Interest Down for Buy to Let Mortgages
The reduction in interest rates means that buy to let properties are a more attractive proposition for new landlords and there is significant demand for properties within the sale market due to this. These low interest rates mean increased returns for landlords and make the whole letting process more lucrative and easier to get involved with.