With glorious sunshine, warmer weather and longer days, there is a lot to love about summer. Summer’s bright blue skies and abundant sun (assuming the famously unpredictable British weather is playing ball) also make it an excellent time to let out your property.
Here at Kings Lettings, we have 30 years of experience in the letting industry and can help you with letting out your property.
The pandemic has changed people’s priorities
The Covid-19 pandemic has truly changed the way we live forever and because of this upheaval, what people are now looking for in a property has changed. More people than ever are now working from home and potential tenants may be more concerned with faster broadband and having a nice home office space.
If you’re seeking to let a property this summer, take advantage of the better weather to make office space in your property look larger. Faster broadband will now be more important to tenants as it is likely they’ll be working from home (at least some of the time) and their children could be taught from home again, too, if further lockdowns are implemented.
Apart from the pandemic changing what people are looking for, it also affects where people are looking to live. More people will be flocking to commuter belt areas such as Essex and Hertfordshire, which are areas that we cover at Kings Lettings.
Rent in commuter belt areas has continued to rise meaning that you could have more bargaining power when you let out a property in these areas.
Even though the commute may never be the same again, London is still a strong performer on the rental market and very likely always will be because of its cultural, business and media prowess.
Tenant enquiries are at their highest levels
Like other industries, the letting market goes through periods of high and lower demand. In the calendar year, tenant enquiries are at the highest in the spring and summer months. July to August is typically when tenant enquiries reach peak levels, meaning you are more likely to have higher tenant demand in the summer.
Whether you are taking control of the marketing process yourself or passing this on to an experienced agent, the higher demand is likely to lead to more tenant enquiries and property viewings, resulting in a faster let. The increased demand in the summer months may also allow you to set a higher rental price, which will in turn increase your yield.
Your property looks better
The glow that comes with summer also applies to properties. Homes can look dull and dark in the harsh winter months whereas summer’s natural light can make rooms look brighter and better. Brighter homes can also look larger, making your property a more attractive prospect for potential tenants.
Summer doesn’t just work wonders for your home’s indoors, it also brings out the beauty of your garden. A well-maintained garden can look glorious in the sunshine, and you can do it up yourself or get a professional to preen it for you.
According to research from Post Office Money, landscaping your garden can add 77% to the value. Summer’s sunny skies are the perfect backdrop for a spruced-up garden and it makes summer the perfect time to show off your hard work and let your property.
You can show off your property’s outdoor spaces
Not all properties will have gardens, but outdoor spaces such as terraces and balconies can also be shown off in the summer. Interest in outdoor spaces can be particularly high in the summer, as with better weather, they’ll probably be spending a considerable amount of time there.
Make sure your property’s outdoor space is clean and tidy before viewings and show tenants how they can bask in the sun at your property. An attractive outdoor space could help clinch the deal.
People want to move quickly in summer
Summer is also an ideal time for people to move and for people to move quickly. What sounds better - hauling around furniture on a bitterly cold winter’s day or moving boxes when the sun is shining?
Apart from the weather being better and making settling into a new property more appealing, a lot of families will want to finalise a move in the summer before schools start in September.
You should take advantage of these factors and make sure your property is on the market now, ready for viewings. It should also be set up for tenants to move in so they can have their children settled in before the new school term begins.
To get the most from your rental home this summer, it’s important to work with an experienced, reputable letting agent. Here at Kings Letting, we can help you to remain compliant and get the most from your tenancies.
For more information on how we can assist you on your letting journey, please contact one of our branches in Essex, London or Hertfordshire today. We also offer a free and instant online valuation to give you an idea of how much you could be charging in rent.
