The London housing market represents an excellent investment opportunity for landlords who are interested in entering the buy to let market in the capital. With sale prices rising throughout the city, more people than ever before are on the lookout for high quality rental accommodation.
With up to a third of the population now renting homes across the UK’s urban centres, there has never been a better time to buy property in London for rental purposes.
The flexibility of a long-term tenancy
With long term tenancies starting from just 6 months, many tenants appreciate the flexibility that they can enjoy when they rent property in London. Whether experimenting with a new area or trying out a new relationship, renting rather than buying is the best way to ensure that having a change of heart doesn’t result in a lot of hassle and expense.
Jas Samra, Henry Wiltshire estate agent in Bow, often discusses why renting is often a better option than buying with potential tenants who are keen to rent property in East London. “The 21st century London property market is fast moving and dynamic.” he says “Many people no longer see their current home as the place that they will spend their entire life. Modern city dwellers are keen to live in a variety of places and experience what different areas of the capital have to offer. Also, our working patterns have changed over the last few years, and now many people change jobs and locations frequently, making renting an easier option that having to repeatedly buy and sell property.”
The importance of convenience in the rental industry
Convenience is key in the modern world, so it’s easy to see the attraction of a fully managed rental property to young professionals who don’t want the hassle of having to arrange their own repairs and maintenance. The idea of simply having to contact a management company if a problem arises is very appealing to tenants with busy lives who often lack the time and the inclination to deal with issues themselves.
Short term letting – a lucrative market
As well as the attractive long-term rental market, there are also lucrative short let opportunities to those who are looking for an interim solution to their housing issues.
Families who are new to the East London area are often looking for accommodation to tide them over until they find a home of their own, and a short-term rental is the perfect solution. They are also the ideal answer for families who are temporarily moving out of their property due to renovation work or who are waiting for their new home to be completed.
Let property in Bow
Jas and the Henry Wiltshire team are experts in the East London rental market. Whether you are keen to make a buy to let investment, or you want to let an existing London property, contact the Bow office on 020 3696 9610 for help and advice.