Tenants are the winners in the changing real estate leasing market in United Kingdom!
A year ago it seemed that the rent gain, by reducing the stock of available rental property and the strong demand from tenants. Now only one year lease, and weaken the choice of rental housing to potential tenants more than ever.
Owners must be balanced against other owners in order to attract business. Tenants are the real winners.
What happened you may ask. A record number of properties for rent in many parts of England and Peterborough, my particular situation, is one such area. As the number of objects, so that at a time when Peterborough is high. This increase in supply mainly to:
* The developer and builder of rental properties may not sell
* Can it be left to the discretion of service providers and may be that there is little or no interest from potential buyers
* It would be like to give the seller can not sell the likely sale price is less than your mortgage
* New investment buyers are beginning to build, while a portfolio of lease sale low values
* Owners are always their portfolios, while the market value is low
How can I prevent an empty apartment
Among the new lease is from year to year, but tenant demand continues to offer. This is not surprising that the tenants are fussy and demanding. There are now more reasons for the properties, and therefore the owner should be open for the driver to potential tenants.
Owners who invest and are willing to negotiate permission first!
New record low base rate of 0.5% means that an increasing number of owners have a much lower mortgage payments and are happy to reducing the rent for the property (s) to other owners:
* A typical £ 100,000 interest only mortgage until December 2008 had a monthly cost of £ 460 to £ 540 per month
* Many homeowners or subsequent standard mortgages with variable now enjoy monthly payments £ 170 to £ 290 per month on a typical £ 100,000 mortgage: A typical savings of £ 250 to £ 300 per month
* Some owners have stuck to mortgages with higher interest rates. This may be a wish that the owners especially if the decline is less than the monthly mortgage. If you do not empty and lose much more money!
What can I do to my property fast?
Bring in the rent in line with competitors, or below, as well as the property is beautiful and well presented kitchen and bathrooms are up to date. Almost all new properties on the market is very modern. Make sure that the schools are clean and well maintained, and no delay in making a decision today.
Tenants are the winners in the changing real estate
Labels: Investment, Property