Our Lettings Director Greg Tsuman's take on the Lettings Market
Despite all the doom and gloom in the media the Lettings market is actually going from strength to strength.
Here at Martyn Gerrard we have had the best start to the year since our records began and the demand for high quality rental properties in Highgate and the surrounding area is by far outstripping demand.
Whilst we all know that statistics can be manipulated they still offer useful insight when it comes to making an informed decision. The properties let surrounding Highgate School in the past 12 months were mostly flats. 86% to be precise. Due to this demand average flat rents have increased by 13% over the past year alone, this is significantly above average for the area which is currently dragged down by the performance of average house rents, currently down by 6% on the same time last year. Performance in house rent is also very mixed as detached houses have seen a small increase in rental prices whilst semi-detached have fallen the most. So if you are looking to rent a family home this is a great time. Alternatively, if you are a landlord you may want to speak to one of local experts and take advantage of our Spring offer ( Valid until end of April).
We offer a no obligation rent review which includes comparable evidence even if the property was not let by us. This will give you an impartial opinion, which could prove very useful when negotiating a tenancy renewal with your current tenant or remarketing the property to find new tenants.
Another consideration is the amount of new legislation that the government are pushing through which will significantly impact the lettings industry. From taxation to licensing, being a landlord is becoming more and more risky, which is why now more than ever you need to have the right agent looking after your interests. Martyn Gerrard offer three levels of landlord services and can even offer advice on deposit replacement schemes which can make your property stand out from your competitors.
The deposit replacement schemes are becoming more and more popular with tenants and landlords but there are significant differences in the offerings. Make sure you understand the exclusions and if there are any hidden fees. Martyn Gerrard has conducted extensive research comparing the different schemes and decided that Nil Deposit offers our clients and customers the best protection whilst keeping the process simple.
For more information please contact your local branch or email Greg at: email@example.com