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Lettings Market update by James Sutton, Lettings Area Director

May 9th 2017
By: Melanie
Lettings Market update by James Sutton, Lettings Area Director

Finally Spring has found us and with it comes a season that historically is full of optimism for everything 'property'.

Within this update there are plenty of interesting statistics and facts to digest. However I now would like to share some of my observations.

We place ourselves as experts in our field. We are here to guide and advise. But more importantly we listen.

So how does the 'typical' landlord feel? How does the 'typical' tenant feel? Are there actually 'typical' landlords and tenants now? Significant changes have occurred for both and with that negative press often follows.

In nearly 30 years within this industry I have been both, and remain to this day, a landlord. I think it's fair to say little sympathy is offered to landlords, they carry a huge responsibility in providing their tenant(s) a safe and cared for home.

Compliance is ever greater, further legislation is pending, anti money laundering checks, right to rent checks, changing tax laws - the list goes on!

If I were starting out again today with all of the above, would I become landlord again? - in a heartbeat - 100%. Being a landlord will offer you challenging days certainly, however, if I look to the future it provides what I hope to be a security for my family. What also so often goes 'under the radar' is how rewarding it can be and this should not be understated.

I could not describe to you a 'typical' landlord now as so many clients over the years have come into this industry for so many reasons. Buy to Let has been a huge part of this, but we are now witnessing a real upturn in Let to Buy landlords retaining their current homes, giving them the freedom to secure the right purchase without any chain pressures.

The government have commenced their consultations in respect of the proposed ban on tenant fees. What are the implications to tenants and is it good news? It's early days and until the finer detail is known it is hard to say, but this has, provoked the industry to assess itself which can only be positive. I do not believe I have ever seen a time where the available rental stock has been more varied. From brand new apartments to city centre conversions, converted barns to Victorian terraces, character homes to country cottages - so many options like never before and given the legislation requirements, at a better standard.

Talking to so many tenants, as we invariably do, it is a chosen way of life. Sometimes short term -sometimes long term. If it is not a forever home though it does enable you to really live somewhere that you desire,
not perhaps somewhere that ticks the most boxes. Which can be really appealing.

We are fortunate to serve a number of both landlords and tenants across all of our offices so you will always find good advice at any of our
branches.

Our staff are not there to sell to you but more to listen and advise. So whether you are landlord, tenant or potentially both we hope to work with
you soon.

James Sutton
Lettings Area Director