Buoyant rental sector bucks the trend

The current economic climate is changing the way we think about renting property and for more and more people renting is becoming a viable alternative to buying. With an uncertain property market, unemployment rising and poorly performing financial investments, renting out your property can provide a flexible solution for many homeowners.

Simon Bacon from Preferential Properties has noticed a significant increase in enquiries from owner-occupiers recently. “We have seen a particular increase in homeowners who are relocating because of a change of job but can’t or don’t want to sell their property in the current climate. Letting provides a viable alternative”.

This is not the only reason interest in property rentals is on the increase, with pension funds taking a battering, property could offer better long term performance when planning for retirement, particularly as property is now more affordable than for a long time. Professional property investors are also seeing the current climate as an ideal time to grow their portfolio of properties as rental demand rises and rental yield outstrips interest on savings.

Simon Bacon concluded “This is where an experienced letting agency with local knowledge is needed, whether you own one or fifteen properties you want to know that your letting agent is looking after your investment, taking responsibility for all of the legal aspects and is also there to offer support and advice when you need it.

“We have invested heavily in our new website to make it as easy as possible for tenants looking for properties to register online, view property details, receive automatic alerts on types of properties they are interested in and book viewings, all without leaving home. With tenants waiting for properties this means our landlords have minimal void periods between lettings”.

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