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2017 - What’s happening in the rental World

August 24th 2017
By: Melanie Hollidge
2017 - What’s happening in the rental World

Despite reports that the average rent has decreased by £51 in February this year compared to last, the UK rental market still remains strong. However if you are a landlord and would like to ensure that you maximise your investment, then we would recommend that you decorate your property to a high standard because tenants have more choice than before so they will normally choose the more attractive properties first.  

More people are deciding to rent out their current property rather than sell which has resulted in much better quality rental properties being available.

Tenants are choosing properties for their locations, especially in London. 2

Prospective homebuyers are looking for shorter tenancy agreements – there has been a shift in tenants moving out before the end of their six months tenancies to either move into a property they own or because they dislike it.  

Longer terms tenancies are becoming available which is good for tenants as it gives them security as well as a landlord because it means they have peace of mind and a guaranteed income for a longer duration.

More prospective tenants are putting down larger rental payments in advance to makes sure they can secure a rental property.

1.https://www.theguardian.com/business/2017/mar/13/uk-average-annual-rents-fall-stamp-duty-hike-letting

2. http://www.propertywire.com/news/uk/micro-apartments-increasingly-demand-prime-central-london-property-market/

http://www.guildproperty.co.uk/news/post/1499440351/the-top-10-rental-trends-in-2017