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2014 and the changing face of the private rental market!

Lettings has changed dramatically in the last decade. In 2014, private rentals (18%) overtook the Social Housing market (17%), to become the second largest tenure in the UK.

 Lettings has changed dramatically in the last decade. In 2014, private rentals (18%) overtook the Social Housing market (17%), to become the second largest tenure in the UK.

With Buy-to-Let lending growing 38% annually, the rental market looks set to grow for the foreseeable future.

 

Recent legislative changes in Northern Ireland include:

Landlord Registration

Tenancy Deposit Scheme

Enhanced Gas safety requirements

Energy Performance Certificates

Agents must display their fees on letting’s adverts

 

And a few proposed legislative changes on the horizon:

Letting Agents' required membership in a Redress Scheme

Rent Controls (if Labour come to power next year)

Visa checks of Tenants by Landlords or Agents (If the Home Office have their way)

 

Most Agents only try to fit the same square product for the sales market into the round hole of the rental market. Isn’t it time for bespoke services which better cater to the rental market’s needs?

For more information, please call us or pop into one of our offices for a chat with either Jackie, (in Bangor – 028 91 477 999), or Trevor (in Newtownards – 028 91 821 999).

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