At Holmes Estates, we know there are unique challenges in letting London property in 2022, and there are challenges in the summer of this year. However, we also think that there are benefits and opportunities to having rental accommodation available at this time of year.
If you want to enter the London rental market soon, we are more than happy to assist you as best we can.
Some common challenges of letting property in London in summer include:
- The weather - it's either too hot or too wet
- People are on holiday so there's less demand
- There's a lot of competition from other landlords
- It can be hard to find good tenants in the summer
- You have to keep on top of things like repairs and maintenance
Weather always matters in the UK
One thing you know, or will come to know about life in the United Kingdom, is that the weather is always one of the hottest topics. This is particularly true in the summer, and there are many challenges to overcome at this time of year.
If it is a warm British summer, not a lot gets done. People want to make the most of the sunshine and warmer temperatures. This means there is a lot more sunbathing and lazing around in parks, and a lot less time doing more important things!
Not to say that a long, hot summer decimates the rental market, but it means some people are less concerned about moving on.
Then again, if the weather is great for a long time, this might force people to reconsider their living arrangements. Anyone who lives in a hot and sticky flat with no outdoor space might dread the thought of enduring high temperatures in their current location.
So, look ahead to the weather forecasts and see if you have an opportunity in the London rental market.
Will people be away?
You have to accept that in summer, many people go away on holiday. This can lower demand, and it slows activity for the people who are mainly here. You have to think that this year, after the past few years we have all endured, many people will be very keen to get away on summer.
Then again, a lot of people might struggle to justify a summer holiday if they are also looking for new accommodation.
The biggest issue with holidays is if you are waiting on someone to process or proceed with a property issue. If you need people to sign off on agreements, and they are on holiday, the whole thing can grind to a halt.
Contact Holmes Estates for all your South West London housing needs in 2022
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 Estates today.