Is the credit crunch really affecting Lettings??

At present it seems like its all doom and gloom in the housing market, is this really the same for lettings as well?

Definitely Not !- According to local letting specialists Mike Jolly Estates, “ 2010 has got off to an excellent start with strong demand from people looking to rent in Rotherham and the surrounding districts. “

Over the past few months a large number of landlords have come to us with new business to put on our books. Some of which might have been properties that they were looking to sell and have decided to rent for the time being while housing prices stabilizes.

On the other side of the spectrum we have first time buyers who have now decided to wait and rent for a while, allowing them to save for larger deposits and also wait until there are better mortgage deals available.

“ It seems that Renting is the new buying and is becoming more and more popular because of the flexibility it offers to people. “

We have properties on offer to suit most people’s pockets from bedsits to 4/5 bedroom detached houses, although because of recent demand we now need lots more. !

We only deal in lettings and as members of ARLA and the NAEA, Landlords can be rest assured that our service and dedication is second to none.”

Is your property not letting? This may be due to there being an influx in the properties available; renters now have more choice and are able to negotiate in order to seal the deal.

It may have been the case that previously your property might have secured a specific rent, however this is not always the case due to the current market situation.

Our advice for letting a property is:

Presentation
Keep this as basic and minimalist as possible, ensure walls are clean and fresh in neutral colours (maybe a lick of paint might be required), plain carpets, curtains/blind again in a neutral colour and with no person objects left in the property.
Cleanliness
A thorough clean of the entire property is essential, paying particular attention to kitchen appliances and bathroom.
Furniture
If the property is currently furnished, maybe look at the type of furniture that is in there at present and if needs be removing old and tired items. It is not a necessity to purchase items at the out set, we would recommend that you have the flexibility to add items if required.

* Price

It’s a competitive market at present and therefore the correct pricing is essential order for your property to be let as quickly as possible and also be as flexible as possible.

A slight reduction in rent is better than a months no rent!

If your currently looking to purchase a property or thinking of renting our your house, why not give us a call for a free no obligation appraisal, where we can offer guidance, support and our professional opinion.

Rotherham Office: 01709 366708

Sheffield Office: 0114 2306855