10 renters applying for every rental property
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
Rob discusses the current favourable market conditions for landlords in the UK rental property sector. With 10 renters applying for every rental property on average, landlords are in a strong position to rent out their properties and potentially increase rents. Rob highlights the imbalance between housing demand and supply, attributing it to government policies and planning issues.
KEY TAKEAWAYS
- Demand for rental properties is currently exceeding supply, with an average of 10 renters applying for every rental property.
- Landlords are in a favourable position to rent out their properties and be more flexible with rents due to high demand.
- Rental amounts have been increasing due to the imbalance between supply and demand, making it a good time to be a landlord.
- Economic factors such as rent increases offsetting mortgage rate hikes contribute to landlords potentially running at a profit.
- Selectivity in choosing tenants and adjusting rents based on market demand can work in favour of landlords, but finding the right balance is crucial.
BEST MOMENTS
"Apparently there are 10 renters applying for every rental property out there. This puts us landlords in a very good position for a couple of reasons."
"If your rate of return is higher than the rate of inflation and all of the above and you've done your numbers and you're still making money or currency, as I would call it, then Happy Days."
"It puts us landlords in a really good position in order to be more selective on the tenants that we're putting in to our properties."
VALUABLE RESOURCES
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SOCIAL MEDIA/CONTACT US
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BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL