Rental Trends in 2017

As renting a property continues to get more popular and the demand grows we see a change in the trends and in order to make sure you make the most out of your investment it is good to keep up-to-date with these.

The first trend we see is that well-presented properties are letting faster than budget options. Some landlords let their properties deteriorate over time and rather than updating them between tenancies they just want a tenant in their as quickly as possible. Although you don’t want your property sat empty, if you do use this time to freshen the property up it will mean you can achieve a higher rent and have more potential tenants to choose from.

The second trend is that smaller properties are becoming more popular. As it is harder to get on the property ladder people who would usually be first time buyers are going into rented accommodation instead. As they still want to be able to save to eventually be able to buy they tend to look for smaller properties either one or two bedrooms where the rental amount will be cheaper allowing them to save.

Thirdly tenants are paying more for access to prime locations. Being within prime locations means paying a lot higher rent so tenants are starting to look for areas which have easy access to these locations and are prepared to pay a higher rent for these as it will still be less than what they would pay being in the location itself. Daventry and surrounding villages have great transport links and we are finding that more people are moving to the area who then commute to work.

In our blog next week we will highlight other current trends however, if you would like any further information please do not hesitate to contact us on 01327 879431.