With buy-to-let rents expected to rise by 20per-cent in the next five years as demand continues to outstrip supply, Rick Flay, director at Belvoir Sheffield, leading letting agent in Sheffield is informing investors that the market is still extremely buoyant.
New research indicates a huge shortfall in homes unless institutional investors like pension funds take upthe slack, despite any efforts by the Government to improve mortgage availability.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said: “I read earlier this week online that the UK needs an estimated £200 billion investment in new homes over the next five years to house a growing population, which is a phenomenal amount! The importance of rental properties is imperative if we are to house some of those who are unable to get one foot onto the property ladder.”
“Mortgage lenders have failed to make lending more accessible, which has in turn forced more people towards the rental market, something which is great for the buy to let landlord.”
Independent research from the lettings agent suggests that one in three home owners are now considering this as an option, but Sheffield lettings specialist, Belvoir Sheffield, is warning anyone new to residential lettings tobe aware of the many pitfalls, including strict regulatory requirements, insurance considerations and tenant reference and checking procedures
Rick added: “The first step for anyone considering letting out their own home, orthat of a relative, for the first time, is to contact us for an initial, no obligation meeting at which we can go through all of the options open to them.”
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.
