Should I be thinking of keeping my current property and renting it out instead of selling ?

This is a question a number of our recent landlords have been asking themselves and having investigated their options have chosen to rent their property instead of selling.

Often a home owner will come into our shop to ask about the rental process and what they could expect to achieve as a rental figure. We are happy to talk all of this through with the home owner so that they can leave with all the facts and figures they require.

We had two such landlords for whom we have found suitable tenants today when their properties haven’t even been marketed yet. These landlords didn’t necessarily want their properties shown as available for rent, but at the same time wanted the option available to them to find a suitable tenant. As we only provide a Lettings service we receive a large number of enquiries from tenants and from these enquiries we were able to discreetly find them suitable tenants who can work on a time frame to suit the owner of the property.


Why should a home owner consider retaining their current property instead of selling?

At the moment as I have reported in a previous article, the amount of good quality rental properties available in Dunstable is very low whilst the amount of tenants looking is high.

This week the National Association of Estate Agents (NAEA) which is the UK’s leading professional body for estate agency announced that two-thirds of properties sold in July were for under their asking price.

There is no regional breakdown in this announcement which stated that just 4% of homes sold for over the asking price, with 30% selling at the asking price.

In London the figure has been reported by other sources as 80% of houses selling for less than the asking price last month.

The average number of properties available per branch was up by 11% month on month whilst demand had slipped reported NAEA

NAEA also put the number of first time buyers at 20% of the total which is a far lower number than current estimates

The association put the number of overall sales to first-time buyers at 20% of the total – a far lower proportion than most current estimates.

 If you are considering renting your property as an option then feel free to visit our shop on Church St, in Dunstable and we can explain the whole process to you.