Friday, 19 November 2010

Rental bonanza is unprecedented says local lettings agency

With demand outstripping supply, rents are currently at an all-time high – and they are likely to stay that way for some time to come.

What we are experiencing is unprecedented. In the last few months, we have seen a soaring demand for rental properties - from one bedroom flats to family homes - and rents are continuing to rise rapidly.

We believe demand for rental properties will continue to surge due to a number of national factors.

The average age of a first time buyer is now 37 and with restrictions on mortgage lending this is unlikely to change.

Student debt is also on the rise which will make buying a property out of the question for many people and we also believe that the public sector cuts will have a huge impact.

Across the board, people are more and more reluctant to commit to buying and want to remain in rented accommodation long-term.

Whilst the boom is good news for landlords who can expect greater returns on their investment, it is not such good news for tenants who are having to fight harder to secure properties.

In this market, the best piece of advice for anyone considering either renting or letting out a property is to research every aspect. Both landlords and tenants should obtain advice from reputable licensed letting agents who can guide them every step of the way.

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How a good estate agent can make all the difference

Take good care when choosing your estate agent and reap the benefits of a successful sale.

Selecting a good estate agent can mean the difference between a property languishing on the market for months or selling much more quickly.

In this tough climate, it is more crucial than ever to take your time and conduct your own research to enable you to choose the right estate agent. You will have no better ally – the right agent can offer in-depth advice and support and most importantly ensure that your property is priced realistically.

We advise sellers to be cautious about those agents quick to over or under value a property. Most estate agents are very professional but unfortunately there are some who overvalue to win business or undervalue to get a quick sale and their commission.

Pricing a property correctly requires considerable skill. Our aim is always to achieve the best price for a property, and we go to great lengths to make sure this happens by ensuring a property is valued appropriately at the outset.

It can mean the difference between moving now or selling later for less than if it had been priced competitively in the first place.

Other things to bear in mind when looking for an estate agent are the quality of service, coverage and professionalism on offer. For example, does the agent offer additional services such as mortgage advice, insurance, conveyancing and surveys? We offer a one stop shop for all these services which is of huge benefit.

It is also important that your property is marketed effectively. It is well worth researching what sort of marketing materials an agent produces. In this current market, your property needs to stand out from the competition.

We also believe the most important aspect is the professional relationship between an estate agent and client.

You want an agent who has in-depth knowledge of the market and who will go that extra mile for you. Our staff are selected not only for their knowledge and expertise but also their integrity and willingness to provide the best service possible. They are trained to the highest standards and take great pride in their work, always putting their clients’ interests first.

Choosing an estate agent is not the easiest task, but the benefits of selecting the right one are immense so it is really worth taking time over.

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