Thursday, 28 October 2010

Rent if you can’t sell

Homeowners struggling to sell their properties in tough market conditions and anxious to move should not feel despondent.

Many property sellers are now deciding that rather than waiting to find a buyer and secure a realistic price for their property, a temporary option is to rent it out.

Before now, it would not have occurred to many sellers that they can actually rent out their property, but many are seeing it as a viable alternative to selling.

The rental market is currently booming and landlords can expect increasingly higher yields with demand outstripping supply. Coupled with this, renting provides flexibility and a source of income, whilst allowing time for the housing market to improve.

Before deciding to rent out your home, it is important to obtain advice from a reputable lettings agent who knows the local area and market well.

Before letting out your home you will have to ensure it is up to market standards, inform your mortgage and insurance companies, and make it compliant with safety regulations and other legal requirements. This is not difficult and, providing you obtain the correct advice from us and our financial services colleagues, everything should be fairly straightforward.

Property is one of the biggest investments anyone ever makes, so it makes sense to ensure that when you do come to sell you do so at the right time and can secure the best price possible.

Labels: , , , , , , , , ,