While there is considerable focus on the property market, it should be pointed out that there has been a rise in the UK rental market in recent years.
Many people and households have found themselves priced out of the property market, but equally, many people have no desire to own property. This has created significant demand for rental property across the country, and in Bridgwater, we have seen this demand and activity at first hand.
We are pleased to say we have helped many people in the local property and rental market. We have worked closely with landlords, and we have helped tenants find their ideal rental home. A lot of what we do is related to bringing people together, and this is always going to be the case.
If you are a new landlord, or you are considering entering the rental market, you are not alone. Being a landlord is challenging, but it can be rewarding. If you are looking for guidance in the Bridgwater rental market, get in touch, and we will ensure you have all the information you need.
There is significant demand for rental property
Research from a UK agency has found the number of buy-to-let landlords in the UK have risen by 49% in the past five years. This takes the number of UK buy-to-let landlords to 2.7 million. This is a record number.
While the commercial property market has suffered in 2020, the residential market has remained buoyant. A study suggests 54% of tenants have spoken with their commercial landlord about taking a rent holiday.
It is not unreasonable to assume many residential landlords have received similar requests.
As we move through 2021, it is likely landlords and tenants must work together. We will still be dealing with the COVID-19 pandemic for some time, and of course, Brexit must be managed.
Whatever move you wish to make in the rental market this year, please get in touch, and we will be more than happy to assist you.
Landlords can enjoy a solid return when buying to let
Stephen Ludlow, a noted name in the UK property market, said: “The buy-to-let market has continued to provide a reliable return on investment for landlords, even during the worst of the pandemic when other forms of investments went through a period of intense volatility. The historic resilience of residential property means many private investors are still looking to add to their holdings, particularly before March 2021 when the stamp duty holiday ends.”
Stephen Ludlow continued by saying; “We would advise existing and prospective landlords to consider re-purposing their properties to meet the changing needs of tenants. With people spending more time at home, having extra space both in and outdoors has become more important than ever. Outdoor areas and home offices are both in very high in demand, as is accessibility to high-speed WiFi.”
As an experienced letting agent serving the Bridgwater community, and many of the surrounding areas, we are here to help. We promise to stay in touch with the latest technology, helping our clients to achieve more, and we aim to support the local community as best we can. If there is anything, we can assist you with; please contact Andrew Lees Lettings today.