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Landlord? Maximise your rental return…

September 3rd 2014
By: Melanie Hollidge

If you are a landlord and own a property in a city or town a furnished rental could offer you the best returns for your investment. Landlords can expect to receive a 2.8% premium for furnished property compared to other landlords who offer unfurnished homes; especially rentals that provide quality furnishings, as these normally have an even higher premium.

In July rents increased by 3.7% compared to July 2013. The average national rent is now £898 per month, with the highest being in the capital, at £2,503 per month.

Towns and cities generally have a younger tenant population, who in most cases have very little furniture and are prepared to pay a premium to have their home furnished. In more rural locations, properties are more likely to be aimed at a family market, who typically already own enough to furnish a home.

Christopher Lines, Managing Director at Goodfellows commented: “The rental market remains strong in the UK, with steady growth across Surrey and London. It is essential that if you are going into the lettings market that you have a good understanding of your market to maximise your rental return. In town centres such as Wimbledon and Morden for example, tenants don’t mind spending extra on high-end rental property, as they are looking for homes which will easily accommodate them, and they don't mind paying a premium.’

If you are looking to maximise your investment as a landlord in Surrey and South West London, then why not pop into our local branch of Goodfellows for a coffee and a chat or call us on 0845 3727070

Source: Property Wire