As new figures reveal today that landlords are feeling more confident that they have been since the credit crunch, Belvoir Sheffield, leading letting agent in Sheffield says this is down to an increase in yields and decrease in void periods.
Aspart of the report, BDRC Continental reported that two thirds of landlords reported their business expectations for the next quarter to be ‘good’ or ‘very good’, the highest level achieved since 2007.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said: “This report is great news for the private rented sector and shows that confidence is certainly returning to the market. The report also showed that in the second quarter, 12 per-cent of landlords added an average of 2.6 properties to theirportfolios, which is also very positive news.”
The figures also demonstrated that landlords were reporting an average rental yield of 6.2 per-cent in the second quarter, although a third experiences a void period, still the lowest percentage in the last twelve months.
The figures were backed by the latest English Housing Survey published earlier this month, that showed that the private rented sector now account for 3.6 million households in England.
Rick, whose letting agency on Campo Lane in Sheffield, specialises in providing flats to let in Sheffield added: “Although these figures are certainly a step in the right direction, landlords still need to be at the top of their game. DIY landlords are among those who have been mostly affected by void periods in the past and this will continue. This is because they are conducting their own credit checks, gathering their own references and maintaining the landlord-tenant relationship themselves.
“It is important to realise that even though the market is improving, we are still in the midst of some tough economic times, so it is essential that landlords seek the advice of a professional lettings agent such as Belvoir to minimise this risk.”
Belvoir Lettings Agency in Sheffield is the One Stop Specialists for Lettings including PropertyManagement, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Buy to Let Mortgages.
