'Look to let', owners wanting to move advised

Published 13th Jul 2010

There are few things more frustrating or stressful then needing to move but being unable to do so because you cannot sell your home - but there is another solution - one that could not only enable you to move home as soon as you are ready, but will also provide an income and allow you to delay your sale until a more favourable sales market - letting...

Being unable to sell is unfortunately a situation too many currently find themselves in as the sales market continues to be slow, with a disappointingly low level of enquiries from potential purchasers throughout the normally busy spring and early summer months.

A significant improvement does not now seem likely as sales tend to fall during the summer holiday season and into the autumn months.

But, according to letting specialist Leaders, if you want or need to move you need not despair, there is another option. That option is letting.

Says Leaders' Managing Director, Paul Weller, "Letting your home could be the solution to your problems if you want to move soon. Demand for rental property is stronger than ever and good quality properties are being snapped up by tenants as soon as they become available.

"Whilst the sales market is suffering, the rental market is buoyant because more people are choosing to rent for a number of reasons: people are still uncertain about the economy and are either unable or unwilling to commit to buying a property; renting is a more affordable and flexible option, it does not require a huge deposit and it allows people to move on easily for work opportunities.

"We are seeing exceptionally strong demand for all types of properties in the areas we cover," continues Mr Weller, "from studio flats to large family homes - with many tenants choosing to extend their tenancies indefinitely. If you put your property on the market with us you will be able to get moving quickly. You can let for six months - or longer if it suits - until the sales market improves, and in the meantime get a useful income from the rent."

Home owners are advised that if this option appeals to them they need to act sooner rather than later. Rental demand is particularly high at present whilst property stocks are lower, therefore premium rentals are being achieved. As autumn approaches, the tendency is for more properties to come onto the rental market, therefore the choice for tenants will be greater.

Says Mr Weller, "It is important to set things in motion as early as possible even if the property is not going to be available for a couple to three months time. There is a growing tendency for tenants to want to secure a home much further in advance than they used to - a reflection of the fact that there are fewer properties available now and tenants do not want to be disappointed in their search.

"Becoming a landlord can be a daunting prospect, particularly if it was not something you initially planned. Your property could be perfect for letting, so why put your plans on hold if you don't have to?"

Source: ' TMC '

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