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Letting specialists Leaders are strongly urging landlords who are trying to sell - or considering selling their property - to think again. Whilst the sales market is currently painfully slow due to an oversupply of property and not enough buyers, the rental market is seeing exceptionally high demand and not enough rental properties to go around.

According to Leaders, who are the largest independent letting chain with 45 branches across the South, this situation is pushing rents up and void periods are virtually non-existent, making letting a far more attractive proposition at the moment.

Says Leaders’ Managing Director, Paul Weller: “It is very frustrating to see some landlords trying to sell their properties given the current state of the sales market compared with the lettings market. According to the latest Nationwide Monthly House Price Index, house prices fell by 0.5% in July on the back of weak buyer demand. It simply does not make sense for landlords to have their properties sitting empty as they try to sell in a stagnant market while we have a shortage of properties for waiting tenants who are clamouring for somewhere to rent.

“Homeowner who are trying to move but are unable to sell would also be wise to consider letting their property. This could not only enable them to move home as soon as they are ready, but will also provide them with an income and allow them to delay their sale until a more favourable sales market.”

Leaders are advising that landlords and homeowners should act promptly. Rental demand is particularly high at present whilst property stocks are low, therefore premium rentals are being achieved. As autumn approaches, the tendency is for more properties to come onto the rental market, therefore the choice for tenants will be greater.

Leaders are planning a number of free seminars, coffee mornings and late night branch openings in the coming months to give landlords and homeowners the opportunity to speak to the experts face to face about their specific circumstances and how best to benefit from current market conditions.

Says Paul: “Some of the landlords looking to sell now are those who came into the rental market a couple of years ago as so-called ‘reluctant landlords’ when they were unable to sell before. Many may be unaware of new and improved mortgage products becoming available that are specifically designed around let-to-buy, which could enable them to release equity and still retain their properties.

“Our seminars will show how retaining your property rather than selling at this stage will bring in a good rental income and a potentially larger capital gain in the long-term. Landlords and homeowners will be given the information they need to enable them to make the best decision for their circumstances.”

The dates, times and venues of Leaders’ seminars will be published in the local press and on Leaders website – www.leaders.co.uk in due course. In the meantime the friendly, team at your local branch will be happy to offer you impartial, expert advice.

ENDS

Posted 30-07-2010