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More larger properties added to growing rental market
While it’s not been unusual for the rental market to be flooded with two-bedroomed houses available to let, now many larger homes and country piles have also been added to the rental mix according to Belvoir lettings
Proprietor of Belvoir Camberley Craig Walker said “People still have to relocate, move or downsize and upsize despite having a large property therefore they have to make it work for them rather than leave it empty, thus renting is often the only option - in the market they are known as ‘accidental landlords’.”
The good news for landlords with larger properties to let is the increased tenant awareness that larger homes are often cheaper to rent than buy. But, with more large houses available to rent than ever before, competition for the right tenants is stiff.
“Many default landlords (non buy-to-let) do not believe a tenant should enjoy the home in better condition than they lived in,” he continues. “But, wake up! It is a competitive market and action is needed if you want yours to be in the top 20% of any short list.”
So, how can landlords give their large property appeal in an already saturated lettings market- Belvoir representatives say....
1.Be realistic with your rental figure, be open-minded to the tenants’ position (ie pets) and have a flexible attitude, wherever possible, to long-term renting,.
2 Alternatively, you could even turn it into an HMO (House of Multiple Occupancy) or divide it up into two or more smaller properties,”
3.Invest and make the property neutral and bright. Lose old-fashioned light fittings how ever much you may love them and fit plain soft colour curtains. Fully redecorate in soft beige/magnolia emulsion and fill in all the holes left by your family prints. Remove large trees and hedges that obscure vision and block natural light too.
4.Also, look at what else is available in your area and make sure your property is more attractive to look at from the road, more attractive when you walk in and the price is attractive or lower than the others.”
5.Meet the viewers with the agents and talk to them about schooling and the neighbours. Demonstrate a helpful attitude now and it will help win them over. Ensure the house communicates a message you care about it and no obvious maintenance issues are left outstanding too.”
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