Piers Morton looks at why the current Cumbrian rental market is ideal for existing landlords – and new ones
Rents in the past 12 months have risen by up to 10% which means there’s money to be made as a landlord – as long as you choose the right property and the right tenant.
In Carlisle, you’d struggle to find a two-bed house to rent at the moment for less than £600pcm. You can buy a two-bed terraced property in reasonable condition for around £80,000 so the returns are looking pretty good, especially with the market likely to stay this way for the foreseeable future at least.
And the same applies across the rest of North Cumbria – from Dalston to Brampton, Wetheral to Wigton people are looking for homes to rent and monthly rental returns reflect that demand.
If you’re starting your portfolio or adding to a current one, we can help manage your properties, whether that’s a Tenant Find service only or all the way up to our Fully Managed service, which takes away the stress and strain of dealing with tenants directly.
And, of course, you also benefit from our links to one of Cumbria’s leading law firms, our sister business Bell Park Kerridge. Using a letting agent isn’t just about us handling tenant queries and rents. It’s also about keeping your properties legally compliant, being there to give you advice on future regulation changes and making sure you’re getting the best possible return from your property.
Whether you’re renting a property or finding one to buy then let, you’d struggle to find a better market in which to do it. So get in touch if you want to find out more.