If you are a landlord, or would-be landlord, you can’t help but have noticed several reports showing the growing demand in rental in the UK. We think this is a great opportunity for the lettings industry.
According to a report by the Resolution Foundation, one in three of Britain’s millennial generation will never own their own home, and will live in privately rented accommodation throughout their lives. The thinktank predicted that the housing outlook for approximately 14 million 20- to 35-year-olds, would see half of them renting into their 40s and that a third could still be doing so by the time they claimed their pensions.
This growing demand makes the private rental market much more secure, with real openings to provide professional, long term rental opportunities to professionals and families that will pay dividends for your business.
Security for you, and your tenants
Thinking long term with longer leases gives peace of mind for you and your tenants. Renters with families are less likely to want to move and want to provide a secure home, which will also save you from constant changes and finding new tenants! This growing demand means that renting is a much more secure market to expand your portfolio in too. Talk to Flatmans today about potential properties that might fit the bill!
Think Long Term
You might also want to consider the upcoming legislation that may affect landlords – The Tenants’ Fee Bill, the cap on rental deposits and the new rules on Minimum Energy Efficiency Standards will all impact on the industry and only time will tell how. There is a need to act in this professionally – short-term solutions will not hold up against increased scrutiny and rules. Flatmans can help – we offer a series of options for Landlords to help you manage your property or properties. You can opt in to the Fully Managed Service, which includes a Rent Guarantee Scheme or one of the other service levels according to your needs and circumstances.Find out more on our Lettings pages