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Why Kingsford Letting believe Leamington Spa is a Warwickshire Property Hotspot
With so many different types of property to invest in, contacting a local expert for advice is vital. The UK is currently experiencing a widespread shortage of rental properties. Across all sectors, including social housing and private rented accommodation, there are simply not enough properties available. This UK wide trend is also reflected at a regional level, here in Warwickshire, where demand for rental properties far outstrips supply – with as many as four or five applicants chasing the same property in some cases. High rental demand, depressed house prices and low interest rates all point to the same conclusion: there has never been a better time to consider investing in property in this area.
So, what types of properties are the most sought after and therefore represent the best investments? Currently, demand for one and two bedroom professional properties in Leamington Spa is overwhelming, with any properties that become available for let quickly snapped up. We recently let a two bed flat in 5 days, from initial marketing through to the fully referenced tenant moving in.
Most of this demand is for unfurnished properties, but as there are so few properties being let fully furnished, there is also a market there. In this case, it is vital to ensure that all furnishings comply with current fire safety regulations. There are also tax advantages to part or fully furnished properties.
Well-maintained student properties will always be in demand in Warwickshire, given the high number of colleges and universities in the area. The investment return on these properties is higher, but it is important to consider the increased maintenance costs, as well as the need to be present at key times in the academic year – start and end of terms, as well as summer holidays.
These properties must be registered with the council and must meet stringent requirements relating to fire safety and the number of bathrooms and kitchens per tenant, among other criteria. The property will also require planning permission from the local planning department.
Help is at hand if you are looking for further guidance on investing in a rental property, or letting out a property you already own. Kingsford Letting, your local rental specialist covering Leamington Spa, Warwick, Kenilworth and Coventry, has extensive knowledge of the current rental market in the area, driven directly by the people applying to us for properties. Being landlords ourselves, we are ideally placed to guide you through local property investment.
Our next article will showcase some property investments available in Coventry, with yields starting from 10%!!
To learn more about Kingsford Letting you can visit their website by clicking the logo below.
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