Owners of studio and one-bedroom flats in Brighton are being urged to consider whether they are making the most of their property.
It is no secret that prospective tenants in the city have an insatiable appetite for apartments; so much so that supply is struggling to keep up with demand and rents are booming in all areas.
If you already own a studio or one-bedroom flat that is sitting empty, rarely used or is a holiday home that could be put to better use, you may be surprised to find out just how much it is worth in the private rented sector.
According to figures from Zoopla, the average one-bedroom flat in Brighton currently lets for £875 per month. If you are not already achieving this, it is worth asking yourself why not.
By altering the purpose of your property, you can end up hundreds of pounds better off each month, making it easier to pay the mortgage than ever before and potentially leaving some extra cash in your account.
What’s more, if you have savings stashed away, there has never been a better time to purchase a buy-to-let property, with the typical yield experienced by landlords at the moment several times higher than the return offered by banks in the shape of interest rates.
In such cases, we would recommend investing in a studio or one-bedroom flat, as you can be extremely confident of securing a quality tenant in next to no time and setting a substantial rent.
As Brighton property specialists, we are aware of just how strong the level of demand is for these types of properties throughout the city, and particularly in central areas close to the beach, shops and station.
All Leaders clients who opt to let a property through us will benefit from our extensive marketing service – including listings on Rightmove, Zoopla and in local newspapers – and promotion via our brand new website.
We have already assisted hundreds of landlords in letting out a studio or one-bedroom rental property in Brighton, allowing them to enjoy the greatest return on it, and we would welcome the chance to do the same for you.
Are you interested in letting out a property? Read our guide to being a landlord by clicking here.