Landlords in London have had a very tricky few years to deal with because of the pandemic. Luckily, we have been on hand to help. Our schemes give a rental guarantee that still pays regardless of tenancy status and market conditions. We are the top provider of guaranteed rent Havering has, and also support other corners of the city too.
Positive news
The tide has definitely turned for landlords now though. Demand for rental properties is back in a serious way, making the market highly competitive. In fact, the figures show that the number of available rental properties was down 69% in December 2021 if you compare to the same month in 2020. At the same time, the number of enquiries was up 25%.
All of the demand in the market is excellent news for landlords. It means they will likely see a lot of competition for their properties. This is true across most of London rather than just the traditionally most popular locations. In turn this can push up prices. In fact, Zoopla is reporting that rent increases across the UK are at a 13 year high.
Where to rent?
While demand and rents are up, there are still plenty of pockets of London where people can find good properties for their money. They just may need to think outside the box and look at different parts of the city, including Outer Boroughs.
One thing to do here is look at the average rents for different parts of the city. These could show where people are likely to target.
According to Rightmove data, the cheapest spot for average rent is Bexley at £1,202 per month. Sutton follows at £1,208 then there is Croydon (£1,223), Havering (£1,257), and Barking and Dagenham (£1,297).
The difference between these more affordable areas and the least affordable ones is incredible. The highest average rent is Kensington and Chelsea at a huge £2,788. That means it is over £1,500 more expensive every month. This is one of the main reasons many people are looking at less popular locations to the East and South.
Investing in these areas
Landlords may be wise to target assets in many of those areas where rent is currently the most affordable. They will likely have some of the highest demand levels in 2022 and could see a nice rise in prices. The popularity could also mean there is a good chance of long term capital gains.
Speak to us about guaranteed rent in Havering
If you do purchase assets, we can offer a fantastic service for you. It is the most convenient way to arrange tenancies and comes with all sorts of benefits. For example, we will give you a guarantee on your rent for the whole term, whether it is a year or five. In addition, we will take care of the management and everything else.
It is much easier to be a landlord with our help. So, why not ask us about services today? You will quickly see why we have the most popular guaranteed rent Havering landlords can ask for.
