As new research reveals that the residential property rental market is booming afteran extra 58,000 properties were being marketed to rent in 2011, compared to the same period in 2010, Belvoir Sheffield, leading letting agent in Sheffield is advising those new to the Buy To Let market to take the plunge.
The new figures from Experian show that the number of properties for sale by comparison had fell dramatically by 12,000 in 2011, yet the number of properties for rent is on its way up.
The volume of properties put up for rent increased every quarter in 2011 when compared to 2010 with the third quarter seeing the most significant increase of 14.46%.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said: “These figures are an extremely positive step for the buy to let market on the whole, and I would advise those wanting to invest to do sonow.”
For the year as a whole, the number 692,766 properties were let out in the UK, making the case for the residential landlord even stronger.
Earlier this week, Jonathan Westley, managing director of Consumer Information services at Experian UK and Ireland, said: “This insight shows that home owners may be using renting as a back-up plan if they are unable to sell or alternatively some may still consider property a long term investment.”
Rick, whose letting agency on Campo Lane in Sheffield, specialises in providing flats to let in Sheffield added: “Research from Belvoir Sheffield suggests that as the prospect of letting out a property becomes is becoming even more financially rewarding than selling your property, one in three homeowners are now considering this as an option, but anyone new to residential lettings to be aware of the many pitfalls, including strict regulatory requirements, insurance considerations and tenant reference and checking procedures.”
Belvoir Lettings Agency in Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Mortgages.
