No matter which source you look at, the demand for rental property is undeniable.
A new study undertaken on behalf of Paragon Bank, which spoke to more than 700 landlords, suggest there has been a net increase in tenant demand, in the past three months, seen by 65% of respondents.
In the opening quarter of the year, 62% of landlords experienced this level of increase, so there is great demand for rental property.
39% of landlords said demand has “increased significantly” and only 1% of landlords said rental demand had “decreased slightly”.
Moray Hulme, mortgage sales director for Paragon Bank, says: “We’ve seen demand for privately rented homes climb consistently since the pandemic. The fact that the all-time high we reported earlier this year has now been surpassed supports our view that the private rented sector remains an essential component of UK housing provision. Renting appeals to people of different demographics and from all walks of life but the flexibility and relative affordability of rented accommodation means its value is even more apparent at what is an economically challenging time for many.”
If you are looking to capitalise on this demand for rental property, we are here to assist you. At Just Lets Peterborough, we aim to provide you with everything you need to manage rental property. From finding and vetting tenants all the way through to a comprehensive property management service, we are here to assist you, so please ask for help.
How to prepare a rental home for tenants
It is vital landlords make a positive first impression on tenants, and this is an area we specialise in. Here are some tips for you to prepare your rental home for the market place, and for tenants:
- Clean the entire home thoroughly, including carpets, floors, oven, hob, extractor and countertops.
- Inspect and test the plumbing and electrical systems to ensure they are in good working order.
- Make any necessary repairs, such as fixing a leaky tap or repairing a hole in the wall.
- Paint the walls if necessary and touch up any scuffs or marks.
- Place furniture in the home if it will be empty when tenants move in.
If you would like to discuss your options, or you would like our help in entering the Peterborough rental market, please get in touch today.
Just Lets – Here to Help
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond. Please contact us through our usual channels – email us at firstname.lastname@example.org or call us today on 01733 346255.