Rentals Lettings Estate Agents – Huntingdon, Godmanchester, St Neots, St Ives, Peterborough, Oundle areas. 01480 471444

Home Ownership drops to Lowest for 20 Years

Home ownership drops to lowest for 20 years

buy-to-let-estate-agentsThis could be the time to buy a property to rent out. The housing trend seems to be heading towards a nation of property renters. There’s still plenty of buy-to-let schemes available with resale homes looking more attractive to potential landlords at the moment.

UK home ownership has dropped to the lowest level for 20 years. A Government report by the British Property Federation has just revealed that just 67.9% of English households owned their home. This is the lowest figure since 1991.

The Private Rented Sector, though, has shown an increase of about a third, up by about 1 million households to 3.1 million in 2008-9, from 2.1 million in 2000. Privately rented homes have accounted for nearly all household growth over the past decade.

It would appear that the trend in British housing is heading in the direction of the European and American markets, where there will be more renters than homeowners.

Professional property management companies are already in big demand and this trend is likely to attract new players into this profession. However, when deciding on which company will manage your burgeoning property portfolio, do some careful research.

The length of time that a property management company has been in business is a good indicator. Word-of-mouth is a powerful weapon in the consumer’s armoury. No letting agent will be able to stand much negative chatter in this digital age.

Ask how regularly they check the property on your behalf. If you believe the agent doesn’t have enough staff to regularly inspect all of their managed properties, then walk away. It’s unlikely that any defects in your property, or any breaches of tenancy occupation, will be picked up from their office.

Gatehouse Estates Property Management offer a professional management service and have just launched a Buy-to-Let service with advice on buying a property to let out, together with advice on how to seek out the best funding deals.

Gatehouse Estates Property Management can be reached in their Godmanchester office on 01480 433933. Please ask for Helen Powell, General manager.

If you’re interested in buying a buy-to-let property, please visit our specialist buy-to-let site, where you can view properties for sale with tenants installed. All of these tenants are in the properties under an annual Assured Shorthold Tenancy Agreememnt.

Rentals Lettings Estate Agents – Huntingdon, Godmanchester, St Neots, St Ives, Peterborough, Oundle areas. 01480 471444
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