Terry Lucking owner of one of Cambridgeshire’s most successful letting agencies looks at how lower buy to let interest rates is increasing supply of buy to let properties and giving renters more choice.
Long term low interest rates means we can expect more money to poor into residential investment from existing and new property investors. Some of the investors will be seasoned investors but new to property. Some of these investors will only be in the market for the medium term; perhaps 4 to 8 years or less or when normal investment interest rates return. Seasoned investors that are new to property will look for property investments that enable easy future sale and exit.
We can expect the new investors to supply prospective tenants with very well appointed and well positioned properties. This will raise the expectation of property standards for many prospective renters.
Investors who want to achieve the best yields and occupation rates have to consider how they can make their properties stand out from the crowd. Presentation from street view will become more and more important. What the property looks and feels like will become more important if you want to attract the best tenants. Terry advises investors and landlords to look at their properties and see what they can do to make it feel attractive with a bit of a wow factor.
Free Advice
Terry Lucking is the owner and director of Belvoir Peterborough. Terry and his team of experienced valuers and buy to let advisors are willing to help investors, vendors and accidental landlords offering free pre purchase visits, honest sale and rental assessments.
Belvoir Peterborough are accredited and regulated agents. Members of ARLA, Safe agent, Safeagent and the Property Ombudsman. It is a requirement for a member of ARLA and Safe Agent to have Client Money Protection and have their accounts independently audited annually.
For more information or to ask Terry a question send an email to terry.lucking@belvoirlettings.com
