The buy-to-let mortgage market has seen further improvement during the early months of 2011, confirming the view that the buy-to-let sector is on the road to recovery and should continue to experience growth throughout the year. This is great news for potential investors who should start to find it easier to obtain mortgage finance and join the many ‘buy-to-let ‘ investors. Bishop's Stortford is experiencing a very busy rental market at present with rents slowly increasing. Many of our applicants are wanting to live in this area for various reasons, good schools, quick access to London via the train or M11, easy access to Stansted Airport and, possibly, the first comment we get from people looking to rent in Bishop's Stortford is how lovely the area is.
DO’S AND DON’T’S
AREA : This depends on the type of tenant you are aiming at for your property. A 3/4 bed property would attract a family and would, therefore, be better if it was situated near shops, schools etc. A garden would be more important to a family than young sharers and easy walking distance to the station for access to London is often important. However, a 1/2 bed property would attract younger tenants and would be better near to public transport, shops etc. as they often do not drive.
FURNISHED/UNFURNISHED : Any rental property 3 bed or larger should always be unfurnished unless you are considering letting to sharers in which case the bare essentials should be included (beds, sofa, coffee table and wardrobes). Furniture should always be practical for its use, ie. Washable fabrics on sofas or leather is often a good option. All furnishings must comply with regulations (The Furniture and Furnishings (Fire) (Safety) Regulations 1988 1 (as amended in 1989 2 and 1993 3 ) When considering furniture it is always advisable to look closely at the shape of the room and how best the furniture will fit, giving the room a spacious feel and make this more pleasing to the eye. A property is always easier to let with good quality furnishings rather than sad out of date furniture.
For further advice or help finding you a buy-to-let property, please call us on 01279 653067.