Where have all the good houses gone?

Tough times for tenants looking to secure a decent spec home to rent as all the good stock was nabbed in the early part of the year.

It would seem there is a gap in the residential lettings market for decent good quality housing to rent for professional tenants.  Browsing through the Internet and talking to a couple of local letting agents, it would appear that the first three months of 2009 showed an abundance of good quality empty houses to rent across the UK.  However, it is becoming increasingly difficult to secure a property that is not in need of a little attention and Landlords don’t seem to be willing to meet the demands for top quality homes.

Why is this the case, Adrian, a local Letting Agent in Henley upon Arden explains that they “Currently have 2 types of Landlords on their books, the Professional Landlord and the Accidental Landlord. “

By definition, the Accidental Landlord would be a home owner that has been struggling to sell their property over the last year and took the financial decision to let out their property.  These properties are generally of a lower spec (hence why they did not sell in the first place) and are the last to be let on the Agent’s property listings.

The advice to Landlords still holding onto empty properties, “Dig into your pockets and spend a bit on your investments if you are looking to attract good quality tenants.”  You don’t have to spend thousands, often a fresh lick of paint and a few new appliances would be enough to get that property filled!

Our Top tips to improving your Rental Property are as follows:

1. Clean and tidy - This is the most obvious however, is often forgotten.  It pays to get the property professionally cleaned.  Clean Carpets, fresh wall paint and a manicured garden is a must!
2. Maintenance - Whilst the property is empty, this is your perfect opportunity to fix that leaking tap or to have the gutters replaced.  It shows prospective tenants that you will be looking after their best interests when you look after your own property
3. Clear out the Loft - Try to avoid the temptation of padlocking the loft, not only is this a fire hazard it is also bad feng Sui!
4. De-weed the Garden - And hire a patio cleaner to get rid of the old moss growing on the patio
5. Airing the Property - if the property has not been ventiliated for some time, chances are that when a tenant enters the property, they will be met by an unfriedly odur.  Make sure that either you or the Letting Agent open a window every week or so.

The rental market is still thriving - don’t miss out!