There is considerable demand for rental property in and across London right now, but landlords shouldn’t rush into finding their next tenant. It is vital you find the right person or people to move into your rental property.
At Holmes Estate Agents, we are keen to provide you with as much support and guidance as we can, so if you are looking for assistance in any rental matter in South West London, please get in touch.
What do landlords think?
Hodge, a financial institution that focuses on mortgages, commercial lending and savings, undertook a recent study, speaking with more than 100 portfolio buy-to-let landlords. All these landlords held a portfolio of property of under £5m.
Some of the most interesting findings from the study include:
53% of landlords believe finding the right tenant is the leading consideration in the role
42% of landlords said finding a good property manager is a concern
37% of landlords said being able to re-let property quickly was a big concern for them
Mike Clifford, head of commercial propositions at Hodge, said of the findings: “This research has highlighted to us as that no matter what challenges the market has thrown up over the last 18 months, the key concerns for landlord continue to centre around the base fundamentals of letting properties to good tenants and ongoing management. It is clear to us as a lender that we must work together with landlords and brokers to ensure that we continue to offer a service that simplifies the lending process and removes stress, rather than adding additional concerns.”
If you are keen to find the most suitable tenant for your property, we are on hand to assist you. We are pleased to say we vet tenants, and only provide you with names who look like being a great fit for your rental property.
To find out how Holmes Estate Agents can help you move forward, get in touch, and we will be more than happy to assist you.
Cause for optimism for landlords
Information provided by The Deposit Protection Service shows:
Average rents for detached properties in the third quarter of 2021 rose by £38, an increase of 3.52%. The average rent rose from £1,079 to £1,117.
The average rents for detached properties in London rose by £92 in the third quarter of 2021, an increase of 5.27%. The average rent rose from £1,764 to £1,857.
For rental properties on the whole, the average UK rent increased by £14, an increase of 1.74%. The average rent rose from £804 to £818.
Matt Trevett, Managing Director at The DPS, said: “Despite the roll-out of the coronavirus vaccination programme and the lifting of lockdowns, it seems that tenants are still prioritising more living space and are willing to pay for it. They are also staying in detached homes for longer and this, combined with lower availability of these properties, is driving up rents. The last quarter’s rent increases across all property types and most regions suggests a strong return of demand from tenants as employees start to go back into offices and students attend University in person this academic year.”
Paul Fryers, Managing Director at specialist buy-to-let Lender Zephyr Homeloans, released a statement, saying; “Evidence of strong tenant demand, particularly for detached homes during the last quarter, will help provide further valuable insight for landlords considering whether to invest in property this year. It is important that landlords wishing to purchase property take into account their own specific financial situation as well as current market conditions.”
We have considerable experience and expertise in the South West of London. We are ideally placed to help vendors, tenants and landlords during this challenging time. If you have any questions regarding the South West London property market, please get in touch with Holmes Estate Agents today.