Letting specialists Leaders are urging landlords considering selling a property to think again.
The agency says the rental market is seeing exceptionally high demand and not enough rental properties to go around.
According to Leaders this situation is pushing rents up and void periods are virtually non-existent, making letting a far more attractive proposition at the moment.
Managing Director Paul Weller said: “It is very frustrating to see some landlords trying to sell their properties given the current state of the sales market compared with the lettings market.
“According to the latest Nationwide Monthly House Price Index, house prices fell by 0.5 percent in July on the back of weak buyer demand.
“It simply does not make sense for landlords to have their properties sitting empty as they try to sell in a stagnant market while we have a shortage of properties for waiting tenants who are clamouring for somewhere to rent.”
He added: “Homeowner who are trying to move but are unable to sell would also be wise to consider letting their property.
“This could not only enable them to move home as soon as they are ready, but will also provide them with an income and allow them to delay their sale until a more favourable sales market.”
Leaders are advising landlords and homeowners to act promptly as rental demand is high and property stocks low. Therefore premium rentals are being achieved.
The firm is planning a number of free seminars, coffee mornings and late night branch openings in the coming months to give landlords and homeowners the opportunity to speak to the experts face to face about their specific circumstances and how best to benefit from current market conditions.
Weller explained: “Some of the landlords looking to sell now are those who came into the rental market a couple of years ago as so-called ‘reluctant landlords’ when they were unable to sell before.
“Many may be unaware of new and improved mortgage products becoming available that are specifically designed around buy to let, which could enable them to release equity and still retain their properties.
“Our seminars will show how retaining your property rather than selling at this stage will bring in a good rental income and a potentially larger capital gain in the long-term.
“Landlords and homeowners will be given the information they need to enable them to make the best decision for their circumstances.”
The dates, times and venues of Leaders’ seminars will be published on Leaders website www.leaders.co.uk.
