Rental income at record levels!

Rents have risen to a record high in the first three months of this year and property website Right Move reports that — for prospective tenants — this is the most competitive rental market it has ever recorded.  

There is currently strong demand from prospective tenants in the Banbury/North Cotswolds area. Some are wanting to rent while they find their ideal home to buy; others are looking for a property that will be their home for the foreseeable future. Since there are not enough available properties to meet this demand, rents are rising. This is good news for landlords. 

Rental properties coming onto the market in cities across the UK during the first quarter of 2022 had asking rents 14.5%—19.7% higher than during the same period last year. In the South East, average yield for landlords for the first quarter was 4.7%, with rents 9.6% higher than last year.  

It’s clear that now is an excellent time to offer your property for rent.  

If you are thinking about offering a property for rent, you may want to get some advice from experts about how to attract the best return and about the pitfalls to avoid.  

At Distinct, we have long-term practical experience of letting properties successfully. We generally let a property on the first viewing day.  

Get in touch by phone 01608 695252 or through our web page www.distinctpropertyconsultants.co.uk. We look forward to hearing from you.   

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