- Wed 22 Dec 2021
Whether you are just starting out on your journey as a landlord or adding to your current portfolio of properties, it’s important to focus on what tenants are looking for in their next rental home and where they are looking.
The last year has shown that tenant priorities can change in such a short matter of time, so being able to adapt to changing tenant demands can put you in a much better position to not only find the perfect tenant for your rental property but to also get the best rental yield for it too.
Having seen so much change in the last 18 months it has become apparent many new town locations are growing in demand. Whilst this is starting to look like the case, lots of people are still of the mindset that they want to live in a rural setting, as working from home, outside of the hustle and bustle of cities is still of high importance. At Bradleys Estate Agents, we have 30 offices across Devon, Cornwall and Somerset where demand for rental properties is at an all-time high, meaning the income per month will also follow suit. A report that Savills have published suggests that property investors who consider the South West will benefit from the property values rising to 13.1% over the next few years compared to just 4% in London.
The type of property is also important to tenants, different tenants are in the market for different properties depending on their situation, for example a family would usually be after a semi-detached house whereas if you are looking for a student buy-to-let, you would usually invest in a block of apartments or a large house that could be renovated in to separate living spaces. Choosing which property type to invest in should take careful consideration dependent on your budget as well as your target tenant.
We are still continuing to see strong demand from tenants as we enter the New Year, showing sign of a strong lettings market predicted in 2022. For further information on how can you start your buy-to-let journey or to see the full range of services we offer to our landlords, please click here.