England 18/1/2013 – Continuing interest in property investment is keeping property management agents busy
Property management agents, like most businesses, experience fluctuations in demand for their services. For them demand is very much driven by buy to let investors. An increase in the buy to let market translates into an increase in work for them within just a few months. Therefore, they keep a close eye on the buy to let market.
There is evidence emerging that more people are buying property as an investment than ever before. They are encouraged by the fact that the population of the UK is still rising. In addition, not enough new properties are being built to meet this increasing demand.
However, there is a third reason investing in residential property to rent out. Increasingly, people are unable to buy their own home or maintain their existing home, so have no choice but to rent. Rents are rising year on year and the price of property has fallen. It is not surprising that more people are investing in property, especially given that other investment vehicles are performing far less reliably.
Gross yields are an average of 6.7% and in some areas yields of 8% or more are not uncommon
There is evidence that existing landlords are also expanding their portfolios. Up to 80% of landlords who own multi occupancy properties have recently re-financed their properties. This normally means that they are planning to buy new properties. There is always a peak for this kind of borrowing just prior to Christmas, but this year the peak has been far higher than normal.
Property management agents expanding in advance of new demand
All of this means more work for property management agents. Most buy to let property owners do not have the time to run their own properties, so turn to companies like Rent The House. This company started out by offering property management services in the Accrington area. Today, they are expanding to other areas using franchising. Given the current expanding buy to let market they will not have any problem finding interested parties to join them.
Contact:
Rent The House
25 Blackburn Road
Accrington
Lancashire, UK
Tel: 01254 872030
Email: info@rent-the-house.co.uk
Website: http://www.rent-the-house.co.uk/