Landlord Market Update
2023 has seen the lettings market continue to perform well, with rents remaining stronger than ever, as demand continues to exceed supply. Whilst rental growth over the last 12 months has been underpinned by that demand, the rises are beginning to ease slightly. That said, with record rental figures still being achieved, it is clear the market is as strong as ever.
Affordability concerns are a factor that must not be overlooked, with thorough referencing and vetting of prospective tenants being critical in this market. Just because a prospective tenant agrees to a rental figure, it does not then mean they can afford it. Our rigorous referencing process ensures we only place tenants we are satisfied can meet their obligations, however, the majority of landlords are now seeking a guarantor and ensuring they have Rent & Legal Protection to protect their investment.
We have also seen a growing number of new and existing landlords looking to buy, as bricks and mortar remain a staple of any investment mix. Lenders are gradually reducing interest rates now that the economic outlook appears less sinister than before and, with strong rental yields, property remains an ideal long-term investment for many. If you’re thinking of adding to your portfolio, our expert team can help source the right investment for you.