The rental market has seen a strong surge in demand for properties with multiple tenants applying for each rental property. There is no time like the present to be a landlord!
Landlords have been able to capitalise on this strong demand by being selective with their tenants and charging higher rents. Many landlords are now requiring tenants to have a good credit score, a stable income, and a positive rental history before they will consider renting to them.
With changing attitudes towards homeownership also playing in a role in the recent surge in demand. Many younger people are choosing to rent rather than buy a property, as they prefer the flexibility and freedom that comes with renting. Renting also allows people to live in areas where they may not be able to afford to buy a property, such as in more desirable or expensive locations.
As a result of this strong demand for rental properties, rental prices have been holding strong, and there is no sign of prices declining anytime soon. In fact, in many areas, rental prices have been rising steadily as landlords take advantage of the strong demand and seek to maximize their rental income.
Overall, the strong demand for rental properties is a reflection of the changing dynamics of the housing market. As property prices continue to rise and the population continues to grow, more and more people are turning to rental properties as a more affordable and flexible housing option. Rental prices are likely to remain strong for the foreseeable future, and landlords are likely to continue to benefit from the strong demand for rental properties.
How we enable landlords to quickly and efficiently review tenant applications
Read More
Cavendish Rentals Limited t/a Cavendish Rentals
Company Registered in England and Wales. Company Number 03689406
Registered office: 2 Hilliards Court, Wrexham Road, Chester, CH4 9PX, United Kingdom
VAT Registration Number: GB 728 7753 89