"A number of our clients have taken the opportunity during the quieter winter months to upgrade their properties and we are project managing their refurbishments"
We are eagerly awaiting the arrival of Spring and the upturn it will generally bring to the letting market. The early months of the year are never the busiest and it is usually around Easter time that we see a marked change. The current market is patchy with inconsistent activity although we do already have families enquiring about larger properties to rent with a view to moving in May so hopefully this is a good sign of things to come.
Rental stock levels are mixed. There is a shortage of property in some sectors, particularly one bedroom flats and smaller houses, as well as anything that is newly refurbished. We have definitely noticed fewer investment landlords purchasing properties to let since the increase in Stamp Duty and this has affected stock levels. A number of our clients have taken the opportunity during the quieter winter months to upgrade their properties and we are project managing their refurbishments currently, aiming to be on target with re-launching their property in the late Spring. Newly refurbished properties are generally letting very quickly indeed as they are in short supply.
One of our strengths at Plaza is our hands on and very personal approach. The same member of staff that shows a property deals with the tenancy negotiations, drawing up the tenancy agreement and tenant referencing, guiding the landlord with legal and practical tenancy matters, rent collection and queries during the tenancy, negotiating renewals, end of tenancy arrangements and return of deposit. This continuity of service to clients is incredibly rare amongst other agents and is something we are very proud of. It sets us apart from so many agents with centralized administration departments and ever changing personnel. If the property is under our full management the landlord benefits from the services of the management department too, in conjunction with the lettings office.
Do please get in touch if we can help you in any way. We are happy to give general ad hoc advice or to become fully involved with your rental property portfolio.