News Archive

03/04/2012 QUALITY OF PROPERTY IS KEY IN THE RENTAL MARKET

QUALITY OF PROPERTY IS KEY IN THE RENTAL MARKET

Leamans letting agents of Exeter report that the lettings market has been very competitive for the first quarter of 2012. Undoubtedly the homes that are offered in the best condition have achieved the most rapid letting at the best rent. Conversely those properties that are in a somewhat poorer state can be bypassed and remain on the market for much longer periods, meaning that they will give a lower return on investment.

Leamans have always believed that presentation is one of the key issues that will influence a potential tenant's decision-making process when looking for somewhere to live, this being true in almost all forms of marketing ranging from confectionary to cars. Not only will the perceived quality achieve quicker letting but also it is likely to attract the best tenants, a point that is particularly important when it comes to the maintenance of the property.

Another point to bear in mind is that property to let needs to be in a popular residential location. Tenants will have differing priorities so it is difficult to say that any one area is much better than another but points to consider when offering a home to let will include a variety of questions:

Is it in a quiet area? Some central locations may be affected by local night life or by heavy traffic.

Is access to one or more of the principal work locations easy? Travelling to work time for some people can be a very important issue and the larger employers are a good source of tenants.

Is there a good school close by? For families, children's education will be paramount.

What are local amenities like? Good local shops, recreational amenities, etc. can be very important.

Is the living space large enough? Whether a studio apartment or much larger house, the accommodation needs to be large enough for the type of tenant expected.

In summary, Landlords who can offer an attractive package in how well the property to let is presented along with other benefits such as location and style will benefit the most not only in times when demand may be a little slow but also will reap great advantage even in the strongest market conditions.