Tuesday, 23 March 2010

Rental income on the rise

Rising demand for rental properties and an increase in rental income is good news for landlords - heralding the return of a more confident lettings market.

Recent figures have revealed that rents increased by 1.2 per cent in February following two months of decline. It is predicted that they will continue to rise throughout the year due to a shortage of rental properties.

A year ago, the market was flooded with rental properties but the situation is now reversing. A shortage of rental properties is already pushing some rental incomes higher and if this tightening in supply continues, landlords may enjoy a further recovery in rents over the course of the year.

However, it is vital both landlords and tenants receive good advice. We are committed to ensuring our landlords get the very best return on their investment and also that tenants are treated fairly.

As the rental market recovers, it is very important that landlords remain realistic about the sort of rental income they can achieve. This is why we offer extensive advice and guidance on how not only to attract the best tenants, but also what sort of rental income is appropriate in today’s market.

Demand for rental properties is very high, particularly as more people are deciding to rent. Competition for high quality rental properties is strong which is good news for landlords and hopefully signals the return a more buoyant market which will benefit everyone.

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Open House brings buyers flooding through the doors

Our new scheme aimed at creating a buzz amongst potential property buyers is proving to be a big hit.

With the new Open House initiative, vendors pay a one-off fee for a large-scale viewing event at their property. At one Open House this month, almost 30 potential purchasers visited a property for sale, leading to a winning offer of £14,000 over the asking price.

The events are arranged as soon as possible after the property goes on sale, with eye-catching flags flown outside the home on the day. Making an impact as soon as a property hits the market can be key to a swift sale and maximum interest from potential buyers.

The Open House events are part of a trio of Accelerated Marketing tools. Also included in the package is a minimum of a one quarter page advert in the seller’s local press.

Properties are also given a premium listing on the Rightmove website for as long as the property is on the market with us. Benefits include multiple photos of the property on the search page, an eye-catching background and a larger listing box.

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