Will the rental market stop growing? Where is the demand for rental property coming from? How do you find tenants so fast? Landlords come and see me and ask me questions like this on a regular basis.
The city of Truro (and surrounding areas) attracts a lot of professional working people. Some move for the jobs, some move for their family and some for the lifestyle of living in Cornwall but the demand for equality rental property just keeps going, it seems.
We are only a small team here in Truro which makes the fact that the biggest property portal in the country (I'm not allowed to use the name but they help people Move Right!) has shown that we let more properties between 1st January 2015 and 1st July 2015 that any other local agent! In fact the top five agents in the city let roughly 65% of all the properties, and Martin & Co were the clear leader with almost 20%.
It's been a busy few months and it looks like it will carry on. With stock levels now dipping I am advising potential buy-to-let landlords not hold back, and start looking for their next investment property today.
Roughly three months ago we agreed a sale of a tenanted property from one landlord to another landlord client who had not used us before. He was delighted with the fact that he bought a tenanted property, was getting the property at a good price and at an attractive rental yield. He was so pleased with the service he got from us when buying a property he then instructed us to let another property he was in the process of buying. In fact he instructed us on the day he exchanged contracts and within a week we had found him a tenant. This landlord then introduced me to another friend of his that was looking to invest but didn't know what to buy and where to look.
At Martin & Co advice is free and always comes without any obligation so a new investor is always welcome to simply ask if they need help. That is exactly what this landlord did and he ended up buying two properties in Truro that both let within the first 2 weeks of marketing and achieved him a yield in excess of 5% on both!
So if you looking for a new build semi, two bedroom flat or converted Cornish mill, talk to us first before you put in that offer - you might just save some money by doing it and work out with a better investment all round!