The poole Dorset letting agency Tailor Made offering rent reductions

Latest news from Tailor Made Letting Estate Agents

04/06/2009

Letting Agents Tailor Made  announce Rents are reducing despite Landlords asking the same rent they were 18 months ago the reality is that across the board in Bournemouth & Poole prospective tenants are shopping around and making offers.
"Yes there is a glut of property" confirms Francis Payne however the market is busy because people are staying put. Many on renewal are asking and being given rent reductions and the good news for Landlords is that tenants are remaining longer meaning less void periods in property. The glut of property is being slowly chipped away because people are still retiscent to buy or are still having problems with finance therefore renting is the alternative. In the Long term says Payne it is good news for the Landlord many of whom will benefit from the interest rate reductions on their mortgages. The Dorset Lettings market is gradually turning around. Another consequence of the market has been the amount of inexperienced estate agents turning to the rental market because they are not earning from sales. Francis Payne points out that many of these are amateurs who only have a vague knowledge of the current regulations and legislation and not the know how to ensure proper due diligence