So you’ve gone and invested in a £1 million family home as an investment. It’s the perfect place to raise a family, but then you get offered a job on the other side of the country, or even outside the country. It’s the job of a lifetime and you cannot turn it down – so what do you do?
Don’t despair. You can rent your property instead, and the rental market is very profitable for this type of property. Here’s what you need to know.
The Booming Rental Market
This Is Money recently reported that the rental market has been the best investment over the last two decades. It states that landlords who purchased properties in 1996 have seen returns of 1,400 per cent, which is more than for any other investment. For every £1,000 that was invested in a rental property in 1996, it is now worth nearly £15,000.
And things are still looking good for landlords. The Guardian reports that the market is booming, and that income from rental properties is worth nearly £4 billion a month to landlords, which is why investing in properties continues to increase in popularity.
Kent Reliance, a mortgage lender, also released a report showing that landlords made £44.3 billion in rent in the year up to March 2015, and £67.2 billion in capital gains. Together, this was £5.8 billion up on the same period the previous year.
Have you bought a property in London or elsewhere in the south east? If so, that’s even better. These are the best places for making profit from rent, and rents are rising steadily. For the first quarter of this year, average monthly rent went up by 3.9 per cent, which is the biggest rise in over 18 months.
The Telegraph also reported on the growth in demand for rental properties, suggesting that seven tenants now apply for every property. Demand is going up by 18 per cent a year, mainly because the supply is shrinking, according to a report by Sequence. This means the average rent in London was up to £1,515 in July, a rise of 6 per cent on last year. And outside London, the average rent was £697 a month, up from £670 the previous year.
I’ll Help You Get More from Your Rental Property
If you have bought a property to rent, I can help with the tenancy terms, inventory services and everything else that is involved in renting out your property to get you the best deal and save you time and hassle.
If you are currently looking for a property to buy and let out, let me help you find the ideal property to make the best investment possible at this great time for renting. A good rental property does not stay on the market for long, and you need to be quick, so I’ll use my extensive list of contacts to find the property you need and scoop it up quickly.
Call Richard Mottley on 0800 999 5758 or 07769 32 5758 for further information or submit an enquiry here: http://sanderlinghomesearch.com/contact