In 2017 the lettings market, can only be described as a rollercoaster ride. The inevitable lull over the summer holidays then led on to an incredibly busy few months, with a high demand for property. However, any slight increase in rent levels that happened at the start of 2017 started to level out again. The higher end of the market is slow, unless competitively priced, but the smaller “bread and butter” properties continue to let easily.
My concerns for the investor landlord stock are currently unfounded. We continue to see our investment landlords taking advantage of a slower sales market and are seeing new stock coming on at a satisfying rate. We also seem to be working even closer than normal, with our sales department. The rise of the accidental landlord has gave us more stock to meet the pre-Christmas demand.
Our busy Property Management department has seen an increase in end of tenancy deposit disputes, which just highlights our need to make sure that our inventory clerks are producing accurate documents. We are also finding a higher level of renewal documents being generated by our office, proving that many tenants are staying put once they find the right home.
As agents and landlords are facing new challenges with the imminent Tenant Fee Ban and changes to the EPC regulations, the industry will have to adapt to ensure that high standards are still being met, but that extra costs are minimised. This is certainly the focus of our busy office, heading into 2018.
If you are looking to rent your property in 2018, call Simmons & Sons on 01491 571111
Gemma Parr – Lettings Manager, Simmons & Sons