Rental demand – especially for 1 and 2 bedroom flats – remains strong due to continued difficulty of first time buyers in getting mortgages. However, there is currently a lack of rental property on the market partly due to the fact that owner-occupiers are starting to return to the sales market rather than letting.
The rental market in the West End of Glasgow is as strong as ever and we are letting properties in record times at great prices. In one example, we put a flat in Partick on the market on a Monday and had it let to a quality tenant by the Wednesday, with 4 or 5 others who wanted the flat.
In another example, we took over the letting of a studio flat for a landlord who had had the property on with another agent (who shall remain nameless!) for several weeks. We had agreed a let to a PhD student within 3 hours!
This goes to show that even in a strong market, if you don’t have a capable agent on your side, you can end up losing out big time.
The South Side market is still performing well but you need to make sure that you keep up your property maintenance and present your property well to ensure a quick let to a quality tenant.
