LETTINGS NEWS: It’s a landlord’s market as demand outstrips supply
New figures from the widely-respected Royal Institution of Chartered Surveyors suggest that the number of landlords entering the buy to let sector is at its lowest for two years.
That represents good news for those landlords who already have buy to let properties, or those considering entering the sector this spring and summer: as demand outstrips supply, there are very few vacancies and rents are strong because of competition from tenants.
Circumstances of course vary according to each locality and the type of property to be let, but the RICS says the demand means rents will rise by an average 2.7 per cent across the UK this year and may increase as much as 20 per cent on average by the end of 2021.
East of Exe can advise on those areas of Exeter and East Devon where demand is strongest, on the types of property most popular with tenants, and how landlords can operate to secure the greatest returns on their investment.