Landlords are feeling gloomy and down. All that on-paper money they had, has disappeared the same way that the dot.commers millions evaporated up their broad band cable.
The one thing landlords can console themselves with, is that unlike the dot.com millionaires they still have a bricks and mortar asset. Whereas when the dotcom boom popped over night, many paper millionaires were often left with a desk and a laptop as there only actual financial asset once the party had left town.
And now for some good news released by The Association of Residential Letting Agents (ARLA) showing continued improvement in the rental market. Read more in the Independant's article from Monday.
It shows a fall for rental void periods from an average of 24 days to an average of 22 days.
Average rents for a house now range from £931 a month outside the South-east to £3,000 in London, while flats range from £585 outside the South-east to £2,000 in London.
I will keep my eyes peeled for any further good news in the letting market.
My two cents worth... rental demand in my area (Bournemouth) seems pretty strong. We haven't had more than a week void for quite a long time. However, tenants remain pretty price-sensitive so controlling costs is critical.
ReplyDeleteSounds like your property is good quality at the right price,O.
ReplyDeleteDarling Margo