The best time to let your property? Now!
It goes without saying that we’ve had a long, cold winter and some might say we are pretty much skipping Spring all together and heading into a long hot summer (or so we hope!).
Given the extended period of cold, grey days, more tenants have delayed looking for their next home. As the weather is improving, with lighter and brighter evenings, people will start to get moving, and now really is the time to put your property on the rental market.
Following the Easter break, we often see a peak in rental house hunters, who are keen to find a place to rent, that they can call home for at least 12 months. This year, the market has picked up a bit later than usual due to the unexpected prolonged bad weather that we experienced weeks after Easter, but it’s pretty buoyant now, and we are getting a lot of new tenants through the door who are interested in our stock of properties. It’s a perfect time for landlords to let right now because void periods are at a minimum, and rents are at a premium. As demand grows, so does the opportunity to increase your rent prices, especially in sought after areas where demand for homes is outstripping property availability.
The longer and lighter days are also great for the lettings market because properties always look better, both in photos and in real life, in the light and sunshine! This time of year provides a natural incentive to freshen up your property and ensure it’s looking the best it can after the dark winter period.
There are some easy, cost-effective ways to make your house or apartment more marketable including ensuring exterior space is neat and tidy which involves clearing away all leaves, moss and dead plants, especially from the front garden – remember first impressions count.
We always recommend that landlords ensure the external paintwork and fascias of their properties look smart and fresh – nothing puts prospective tenants off like peeling paint on gates, fences and window frames. Giving your property a fresh lick of paint will also brighten up the rooms and help to let your property faster.
If the property has been tenanted previously, we’d also recommend that landlords give it a professional clean internally. Perhaps think about steam cleaning carpets to get rid of any stains caused by people trailing in mud and debris during winter. Other examples include painting any scuffmarks over and resealing around the bath and shower to get rid of any unsightly mildew – no one wants to see other people’s wear and tear or mess.
If you are in a position to let, or think you are, we really do advise that you act now because tenant demand is currently high and we are finding properties available immediately and at the right price are letting quickly. As the weather continues to get warmer and summer approaches, demand will continue to rise, with July and August being especially busy times, as lots of people and their families relocate to the North East for new job opportunities and lifestyle benefits. To let now, you must act now!
To discuss your rental properties with us further, or for more advice, please call Simon Harrison on 0191 284 7171 for the Newcastle area, or Lorna Morris on 01665 511989 for lettings in Northumberland.