Advice for Current Landlord’s as we Approach the End of the Year

As we approach the end of the year and Christmas is upon us, there has been mixed reviews with the rental market in Battersea, Clapham, Wandsworth, Fulham, Chelsea, South Kensington & Earls Court, with more properties becoming available compared to this time last year which has provided more choice for tenants agreeing at a slightly cheaper rental price.

Since the summer market, landlords are still finding it difficult to adjust to the new market conditions compared with the last couple of years when stock levels have been extremely low and achieving soaring rental prices. 

Despite new market conditions, landlords are still holding out to achieve the same rental prices based on the past years even though tenants have a greater selection of properties to choose from.

Due to the change of market conditions we would advise you to consider accepting a lower rental price to avoid an empty period, especially as we approach Christmas & New Year where traditionally the lettings market is somewhat less active until the market resumes after the new year.  For every week your property is on the market and empty, this will primarily have an impact on the overall annual yield.

If your property remains on the open market without success, we would be delighted to be given the opportunity to discuss further on how we can help you find a tenant quickly. 

Do not hesitate to contact us today 020 7924 4181 / lettings@markhillier.com and we look forward to hearing from you.