You are here: 

• Home
• >
• Lettings Agents
• >
• Derby
• >
• News
• >
• Article

11th October 2011

If you are thinking of renting out your home then read on......

The current economic climate is prompting many homeowners to become 'accidental' landlords.

 

News headlines such as “Homeowners and estate agents are asking not whether house prices will fall but just how far and how fast” (The Observer 9 October 2011) are a daily indication of the state of the current housing market.

 

For many accidental landlords the main motivating factor is the immediate solution that is offered by renting out their property.  Landlords are then in a position to move in a shorter period of time, whilst maintaining their income level to cover mortgage repayments.

We have advised and supported many accidental landlords recently on renting out their properties.  The reasons homeowners let their properties are varied.  They need to move for work reasons, or have inherited a property that they wish to maximise the return on so are delaying a sale until the housing market improves.  In the current climate it appears this could be years rather than months.

With a limited number of houses available for sale, and the difficulties people are experiencing in finding a mortgage lender, there are increasing numbers of people renting.  Currently two-bedroom properties are particularly sought after in the Derby area.

We at Martin and Co have the professional expertise, knowledge and experience to ensure the transition from Homeowner to Landlord is trouble free.  Where Martin & Co differs from many other Derby letting agents is the time we devote to guiding you, the Homeowner, through the transition to Landlord in the buy-to let market.  For example, a homeowner may not be aware that letting the property may breach their mortgage terms, and could risk repossession.

 

Interested in finding out more?

Call us now for immediate advice.

Tel: 01332 291922 or email derby@martinco.com. 

 

Click here to read the full article in The Observer.