As any potential tenant is painfully aware, there is still a shortage of good quality property available on the market to let, so far it is a continuation of what we saw throughout 2014. Landlords selling off and current tenants choosing to continuously renew their Tenancy Agreements are contributing to a rather lean market.
At the lower end of the rental market, we have seen significant rises in what is now being achieved for studio apartments – a year ago you could quite reasonably be able to rent one of these for between £550.00 and £580.00 a month – now you’re have to pay at least £700.00. A bigger increase has resulted in us letting one-bedroom apartments for between £925.00 to £1000.00 a month. The latter figure is pretty close to what’s being achieved for an average two bedroom apartment. It really is quite incredible to think that just a year ago, a one bedroom apartment could quite easily be had for £800.00 a month!! You have to have some sympathy for these new tenants, who in most cases are relatively young and on an average, London wage given one is aware that this is just their basic cost and excludes any Council Tax, Gas, Electric, Water, Phone and Internet Services. Well, at least the landlords are happy.
The demand for three and four bedroom houses remains strong and rental prices reflect this.
If you are in the market for a large executive house, (Four to Six bedrooms) in a prime area, at a rental figure of upwards of £4000.00 then it just may be possible to do a favorable deal with a landlord, especially if the house has been on the market for a good few weeks even a month or so.
We are here to offer you honest, impartial advice as well as great service. With so many ‘estate agents’ now offering to let properties out, it is important and quite reasonable for a potential tenant to ask the agent if a particular property has ever been offered ‘For Sale’. The last thing you want to do is sign and tenancy only to discover that the owner wishes to sell it at a later stage. Believe me, it happens. That won’t happen with us. All our landlords are professionals and their properties are offered on a long-term basis.
