As is the case with the rest of the UK at the moment, Birminghams property market has been leaning more towards the rental side of things for a fair while. A lot of people are still struggling to get mortgages and afford their repayments and, as such, the rental market has boomed and landlords are finding themselves able to charge more than ever each month for rent. It’s now not unusual to be able to charge over £1,000 per month rent for a house in some areas of Birmingham and this sits even below the average for places such as London.
As such, we thought we’d have a chat with one of Birmingham’s leading letting agents, Belvoir Lettings, about the way in which the market has gone and how landlords can ensure their property is never vacant! Mark Roberts, branch manager, stated to us in a conversation this week, “in line with the rest of the country, Birmingham’s rental market has boomed in recent years. Rent is up month on month and the number of people after rental property in the city is phenomenal. Many properties are never empty for long at all, however we’ve been finding recently that adding a few luxuries into a rental property can ensure you can command an almost premium level of rent and ensure your property is never empty.”
Roberts continued, “we’ve seen landlords fitting luxury items into their properties to enable them to ask for more rent and such items we’ve seen recently have included full luxury kitchen ranges and stoves, 50″ LED tvs, hot tubs from Vita Spa, and even luxury whirlpool baths! You name it; we’ve probably seen it in one of our houses we let out!”
Above all; the rental market is strong in Birmingham at the moment and, the way things are going, this trend looks set to continue for the foreseeable future.