The rental market has changed beyond recognition in the years that I have been managing landlord’s properties. It doesn’t seem that long ago that people avoided renting for fear of being left behind by rising house prices and firmly believed that renting was ‘dead money’. How times have changed!
A whole generation have grown up unable to afford to buy their own property and moved into rented accommodation. Many now question the importance of home ownership preferring instead the flexibility of being a tenant.
At the same time we have seen the ‘buy-to-let’ market explode from being non-existent eighteen years ago to being a thriving industry appealing to ordinary people wanting to take control of their financial future. Landlords in the past were largely ‘reluctant landlords’ who were moving with their jobs for a couple of years and wanted to return to the family home afterwards so rented their property out whilst away. Many landlords now have bought second properties specifically as an investment and are seeing great returns. In some cases landlords are benefitting from a 5% or even 6% return which, compared to other investments is extremely healthy.
In the area that we cover – M3 corridor from junction 3 to junction 5 – the demand for rented accommodation shows no signs of slowing. In addition to the young professional first time renters we are seeing strong demand from families moving into the area for work reasons and other families already living locally looking to rent in specific school catchment areas. This continued demand is keeping rents steady at their record levels.
Whether you are a first time investment landlord, going overseas, moving to a different area of the UK or have inherited a property we can advise you on all aspects of letting out your property. From attracting the very best tenant to achieving the maximum rent possible.
Michael Clarke, MARLA, Lettings Director
Mackenzie Smith Lettings 01252 514000 email@example.com