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RENTAL MARKET 2009
Friday, January 23, 2009
RENTAL MARKET 2009
The Lettings market is very busy at the moment with a good number of prospective tenants looking to move. We have seen record number of properties being let in January and this looks to continue throughout 2009. Low to Mid Range Rental properties (£400 - £850PCM) are proving most popular with prospective tenants
However with the current economic climate and the sales market taken a downturn there are more properties on the rentals than before and therefore a lot of competition. The current economic climate is making everyone very aware of their monthly outgoings and most prospective tenants are reducing their monthly rental budget. We are now seeing properties that were achieving £600pcm 5 years ago now only achieving £550pcm.
To give your property the best chance of letting we would suggest that the property is competitively priced, well presented, with modern furnishings and neutral flooring throughout. Prospective tenants are searching for the best property within their price bracket.
We envisage that the Rentals Market will continue to grow throughout 2009, if you would like to discuss the marketing of your property further and would like more advice please contact one of the dedicated members of the team in either the Glasgow or Edinburgh office.