Tuesday, 19 May 2009

Letting agents express optimism about private rented sector, claims Homelet

According to a report in The Negotiator 8th May 2009, a staggering 86% of letting agents expect the lettings market to stay the same or grow over the next 12 months, according to a HomeLet survey.

Only 6% of agents polled by independent research company Progressive, on behalf of the landlord and tenant insurance provider, believe that the rental market will shrink.
HomeLet Managing Director, John Boyle said: "Despite the recession, it appears that concerns about the oversupply of rental properties, due to the increasing number of reluctant landlords looking to let properties they are unable to sell, are not dampening people's spirits."

Meanwhile Olivia Donaghy, a partner at Woods Estate Agents in Bristol, agrees: "I think the market is definitely going to increase over the 12 months because of the opportunities which exist for landlords. "Anyone who previously had cash in the bank has seen that diminish and is now turning to the property market for a good annual return on their investment."
She adds: "I don't think the oversupply of rental property will have a negative impact on the market while there's a national housing shortage. "However, rents are falling because tenants now have more choice therefore landlords have to supply good standard of accommodation at a reasonable rate."

Whatever happens Landlords and Tenants must make that their property is properly insured. Visit jml-property-insurance for more information

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