Tenancies are getting longer

The continued growth of the UK rental sector spells good news for both tenants and landlords. The rental market is clustering in cities around the country with the demand as high as ever in and around London. A recent analysis of fresh data, including the most recent English Housing survey, shows that activity in the market is set to continue.

The demand for rental property in the city is being driven by many factors, with the desire for flexible tenure being a major contributor. Young professionals, particularly those under the age of 30, are searching for rental accommodation close to their workplaces. There was a time when people were happy to live in the suburbs and commute, but tenants’ expectations have changed, and for many the main goal is to find the right rental property in or close to the heart of the city.

According to the English Housing survey tenants are now staying in their rented properties for longer periods of time. 24% of people living in rental accommodation have lived in their current home for between two and four years, which is a 4% rise from ten years ago.

Property investors, landlords and developers are becoming increasingly active in the rental market as demand rises. The consistent entry of committed investors to the market creates a positive outlook for the future. It will lead to a greater supply of quality properties for renters and the need for efficient and professional property management.

We specialise in helping landlords and tenants with all issues relating to rental properties. Our position as the preferred lettings agent in Barnet and the rest of London makes us the ideal choice when looking for property management. We can provide detailed investor services and guaranteed rent schemes that offer you impressive rental yields and long term investment value.