The PRS (Private Rental Sector), has rarely been out of the news over the last few months, and with all the talk about Brexit, many in the industry were unsure how our industry would be affected. Well, certainly in our area, it is a definite case of business as usual. The demand for good quality rented accommodation in Ash Vale, Farnborough, Fleet, Hartley Wintney and Hook is as strong as ever, but having said that, it is important for landlords to be realistic about rental values as discerning tenants continue to look for value for money.
Property is still a good investment and for many represents the most attractive place in which to invest. As house prices have risen faster than rental values over the last couple of years, the return on your investment is not quite as good as it once was, but still out performs many alternatives, and for many offers a very real and tangible asset in which they have complete control.
Similarly, those people moving with their work either overseas or to a different location within the UK don’t have to sell their property to make the move. We have many cases where we are asked to provide a lettings valuation and a sales valuation for owners to enable them to make a decision on how best to proceed, we often see many people choose to let out their property to see if the new job works out. In most cases these owners settle into their new surroundings and gain the confidence to then sell the property. This works particularly well here at Mackenzie Smith, as we can market the property for sale within the last two months of the tenancy to secure a buyer for when the tenant vacates. We have also noticed that once owners have moved out, and the property has been let, it doesn’t take too long before they settle into their new environment and then see the property as an investment rather than the family home, and for many it makes sense to keep it let out to provide a useful income.
If letting out a property is something you have been considering, we would be delighted to offer our advice on rental values, tenant demand and the options available to you.
Call us on (01252) 514000, or e-mail firstname.lastname@example.org.