Is letting still a viable option
Long Term Letting in North Devon
With the prevailing wind feeling firmly against landlords with changes in taxes, increased stamp duty on second home purchases and increased regulation you may ask why continue or invest in property for long term tenants!?
However……. And there was always going to be a however……
Bricks and mortar in our humble and mildly biased opinion is and will always continue to be a good investment. As long as you are not looking to be a millionaire by adding a lick of magnolia paint and sell for 10s of thousands of pounds more the following week, and see it as a long term investment, property should always be a sound asset. With the fundamental back drop of simply not enough property being built compared to the demand, prices will continue to creep up.
Letting property throughout North Devon has long been seen as a good investment with the strength of the areas rental market. With the relatively high price of homes in comparison to average wages across the region, does mean that for the majority of those looking to secure a property of their own, will have to look at long term renting to do so. The size of our awaiting applicant’s database is testament to this. This does mean that for each property that becomes available to rent will have a list of willing applicants and mean that landlords have their pick of tenants.
With the number of government funded housing depleting and struggling to cope with demand, private landlords cashing in their property and new private landlords reticent to come into the sector, this invariably means that per calendar month rents are rising as a result.
Whether you are a seasoned or accidental landlord or looking to get into the market, please do contact our lettings team on 01237 459 998 to find out how we can help you maximise your level of return and help take away the burden of increased regulation and red tape.