January is always a busy time for the lettings market and this year, according to lettings specialists Leaders, is no exception.
Demand for rented property in Portsmouth and the surrounding areas is extremely high, with many people looking for accommodation at the start of 2013.
Leaders’ Portsmouth branch manager, Ian Cope, said: ‘We have a large number of people registered with us at the moment, looking for all types of rented property in and around Portsmouth.
‘The New Year has started very briskly, and whilst we have a good choice of property available, there is not enough available to satisfy the high demand.
‘In these market conditions, any well-presented flat or house in the right location will let very quickly, particularly two bedroom houses with good access to transport links.
‘Properties with parking always have a big advantage over those without.’
There are some good opportunities for landlords and potential investors looking for buy to let properties in the area.
Specifically, the regeneration of Tipner – which includes a new motorway junction on which work recently began - will improve the ‘gateway’ to Portsmouth.
‘This may have positive capital growth effect on properties in Tipner and Stamshaw, providing good investment opportunities for landlords,’ says Ian.
‘We are happy to offer free, impartial advice on exactly what property types and areas are worth considering.’
For landlords of larger properties, Ian advises that Portsmouth City Council’s Planning Requirements for Houses in Multiple occupation (HMO’s) is now in force.
This means that if a landlord wishes to rent out their property to three or more unrelated people, they need to obtain planning consent for change of use from C3 (domestic) to C4 (House of Multiple Occupation).
Says Ian: ‘I would advise landlords to consider applying now for C4 use as there could be a premium on properties with C4 use in future.’
Ian has specialised in lettings for over 19 years and is ARLA qualified.
He is always happy to use his extensive knowledge of the local market to give free advice and guidance to landlords at any stage of their investment.
‘We are looking forward to another busy year here in Portsmouth and wish all our landlords and tenants – past, present and future - a very Happy New Year!’