STOCKPORT LANDLORDS: WHO DO YOU LET TO?

Stockport Landlords: Who Do You Let To?

It used to be the case that tenants would be students and young professionals. This was the demographics that landlords would look to in order to fill their property but in the present day, this is no longer the case. The rental landscape in the United Kingdom has changed significantly in recent times and while young professionals and students are still prominent features in the rental market, there are many other people that landlords can look towards.

If you are a landlord, it is essential that you know which tenant is right for your needs and who will help you run your business in an effective manner. It may be that you have a type of person in mind when it comes to finding tenants, and if you do, it should now be easier to find the sort of tenant that is best for your business.

Families are renting property in significant numbers these days

The recent English Housing Survey indicates that 1.8 million families are renting on a private basis. In the past decade, this figure has risen by more than one million. The change in this demographic should help you realise how significantly the market has changed and if you would feel more comfortable in letting to families, you can do so.

Another group of people who are letting property on a more regular basis is retired people. Between 2012 and 2016, the number of tenants who were retired grew by 200,000 and the National Landlords Association believes that by 2038, this figure will treble. Again, landlords may find that this is a market that appeals to them, providing an opportunity to let property to a group who may be easier to deal with and who are more likely to treat the property with respect.

People in their 40s are renting in greater numbers in the present day

Even people in their 40s are far more likely to rent with PRS stating that this is one of the fastest growing sectors of the UK rental market. People in their 40s are more nearly twice as likely to rent property from a private landlord than they were in 2008. Some landlords may decide that this is a group worth focusing on when it comes to finding the ideal tenant.

One of the most important things a landlord can do in running a successful business is bring the right tenants into your property. With a dependable tenant, you will find that the process of being a landlord becomes much simpler and straightforward, so make sure you focus on finding the right tenant. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.htm



To hear about the latest agency news, updates

and what's going on in your area,

subscribe to our newsletter now


Thinking of selling or letting your property?

Book a free valuation today!