By Samul Swan
At last there is some good news in the UK rental property markets as demand is now outstripping supply. This points to a positive future for landlords as their property should continue to be in high demand.
One consequence of the increased requirement for let property is that as a landlord you should be able to find a tenant more quickly. According to the Association of Residential Lettings Agents during the first quarter of 2010 the average vacant period for rental property dropped to just 3.6 weeks.
Student landlords in popular university towns and cities may find that the property shortage is even more acute. Higher demand for property should fuel higher rents and fewer periods of vacancy for let property - all of which is good news for student landlords.
Get better rental income on your let property
Following the recent economic downturn, many young people have decided to pursue a degree or higher qualification rather than enter the workforce. There are now 2.4 million students in the UK, many of which will be looking for let property. During the past nine months there has been a 45% increase in demand for student housing and the trend looks set to continue. By tapping into this market, student landlords can expect to see a better gross return on their investment.
Generally speaking, rents are higher for student property than a comparable buy-to-let property - often by as much as 10%. A landlord with the right type of property in the right location for students can look forward to better yields on their rental income. It is anticipated that demand for student lets in cities such as Leeds, London, Manchester and Sheffield will continue to rise, making these locations ideal for student landlords.
Keep property vacancies to a minimum
Any landlord will tell you that one of their main priorities is to keep periods of vacancy to a minimum. One of the advantages of letting property to students is that the house or flat will have tenants for nearly all of the year. Moreover, the landlord will know months in advance if the property will be need for the following academic year, enabling them to plan ahead.
How u-rooms.com can help
If you have a property to let within easy reach of a UK university, let u-rooms.com help you tap into the student rental market. Students are currently starting to look for a flat or house share for the next academic year so now is a great time to move into this market. At u-rooms.com we offer a very competitively priced, yet comprehensive service, designed to make your life easier and help you find the right tenants quickly. Simply visit us at u-rooms.com and list your property. For more information about marketing rental property contact or to list your property contact u-rooms.com.
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