Great Time to be a Landlord
4 May 2011
“The demand from tenants searching for rental property is extremely high” says Hugh Morris, Partner of Thomas Morris Sales and Lettings whose very busy Administrative Centre is located on the Colmworth Business Park in Eaton Socon, St Neots.
“The lack and difficulty of securing mortgage funds means that many would-be buyers, including many first time buyers are turning in numbers to the rental sector to find a suitable home” says Hugh. “We are finding that the most popular homes are those offering two or three bedrooms and also having found a property, tenants are staying in them a lot longer than has been the case in the past. This applies right across Cambridgeshire, Bedfordshire and Hertfordshire”
“These factors are combining to influence the sector in such a way that there is now a shortage of good rental properties on the market. Landlords are currently not seeing capital growth in their properties due to the slower housing market but are obtaining strengthening rental income which is providing the foundation for healthy annual returns”
Hugh continues “we consider this is an ideal time for existing Landlords to increase their portfolios and first time Landlords to enter the market whilst pressure remains on house prices. With the increase in tenant registrations across all our branches, we are continually looking for quality properties to help meet the demand”.
If you are considering renting your home or indeed currently have property available to rent, contact your local branch of Thomas Morris Sales and Lettings and for advice on Buy to Let Mortgages, contact Partners Financial on 01480 474488
FOR MORTGAGE ADVICE THOMAS MORRIS CAN INTRODUCE YOU TO PARTNERS FINANCIAL.