Rental Demand Up

The second quarter has been challenging due to an even bigger increase of tenant enquiries but not enough available stock to offer.

This is due to a number of factors:

1. A shortage of new buy to let investors. Although we saw an increase in the first quarter where many investors simply transferred there existing policies to the buy to let sector, since the budget this has been slow to pick up again.

2. Landlords testing the market and trying to sell up. We have seen an increase in this however we have had over 70% of those return to us where they have not sold the property and am empty property is lost revenue!

3. Tenants are staying in the rental sector for longer. This is due to many not being able to secure either enough deposit or fit the strict criteria for multiple income ratio to mortgage offer.

4. Tenants staying in the rental sector because they don't believe in the Thatcher philosophy of 'owning your own home'. They are very happy to rent.

5. Property owners renting out their own property and going into rented themselves. We have seen this trend becoming increasingly popular, whether the landlord is looking to downsize, upsize , move to another area or move abroad, this has become more attractive. A bit like 'try before you buy', thus saving on stamp duty and estate agent fees.

Whatever, the reason, the main fact is there is a shortage of supply. Perhaps one might say this is a good time to get into the 'Buy to let' sector, especially if you are seeing less than 5% on your existing savings, or policies.

At Move On Rentals, we now specialise in the Buy to Let sector, this is because we see a real niche in helping all landlords out there. By selling with a specialist, a landlord can continue to receive rent up to the day of completion and the new landlord receive rent from day one.

If you would like an informal chat on either increasing or decreasing your existing portfolio, then please speak to the team at Move On