Market Commentary on Renting and Letting January 2009

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In October 2008, many frustrated sellers realised they could probably still move if they could rent out their property. In many areas, particularly outside London, this increased suppy of properties to rent dramatically, tipping areas into oversupply so tenants had more choice. Although this lowered rental income in some areas, the number of properties rented year on year still increased.

Signs initially for 2009 look good. Many potential tenants who chose to stay at home/with friends have started to register for a property of their own, increasing enquiries across the UK.

The main issue for 2009 for tenants is to ensure they know to ask for an Energy Performance Certificate when looking at a property; where their deposit will be protected and copies of a gas/electrical survey report. No tenant should rent a property without this information - however lovely it is!

For landlords, it's important year to choose their letting agent carefully. Increased legislation makes running a let legally very difficult on your own. However the biggest issue is making sure that they rent from an experienced letting agent rather than an estate agent that has 'just opened' a lettings department to make ends meet.

For more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit ABOUT US, see Kate on video and for media appearances, contact:

Sylvia Tidy-Harris
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