Chalmers & Co, letting agents East Lothian and Midlothian, report that the letting market is strong currently. Agency manager, Scott Jack, comments:
“The average void period on the properties we have let over the last six months has been only 2 weeks. In fact, nearly 40% of the homes that we’re managing have let with no void period at all. That means that the landlords lost no rent because the new tenants moved in as soon as the property became available. Buy-to-let investors should be interested!
“Chalmers & Co are still finding that an increasing number of new instructions are from people who are unable to sell their house because of the weakness of the estate agency market. Some people may be turning to their current estate agents to let their properties. However, don’t under estimate the importance of having experienced property managers. There are plenty of things that can go wrong.
“Chalmers & Co has been in this game for over 40 years; we have fair but effective leases, and robust letting and management processes, including annual rent reviews and internal and external property inspections. Otherwise, landlords can end up with unnecessary issues with tenants and lost rent.”
As energy prices soar, Chalmers & Co also report that rising energy bills are becoming a more important consideration when prospective tenants select properties. One tenant recently served notice because the oil bills were so high.
The East Lothian letting agents actively encourage landlords to upgrade insulation and heating systems. Five bedroom Cousland Park Farmhouse, available to rent at £1,250 per month through Chalmers & Co, has just added a wood burning stove to its improved open plan kitchen-dining room and installed an efficient modern boiler. Chalmers & Co’s architects have recently upgraded some cottages with improved insulation and hybrid heating systems with solar panels and condensing boilers.
Scott Jack can be contacted at Chalmers & Co on 01620 824000 for a free pre-let or pre-sales valuation.