Summer slowdown for rental properties


By Becky Moran of TN Lettings

August is notoriously quiet for rental properties and this year is no exception – whatever the weather! With people going away and taking time off work, interest in rentals and moving house is low. While we don’t want to wish away the summer, we are looking forward to September and back to school – and back to ‘normal’.

Apart from the summer silly season, the general level of buy-to-let mortgages being taken out is also low. Normally this would hugely affect the number of new rentals. However, we are seeing new rental properties becoming available because of increases in mortgage rates and the cost of living. We have heard many tales from people whose circumstances have changed and they have found themselves unable to sell their property, choosing instead to let it.

So properties are out there and it’s always worth asking your local letting agent what they have, or what will soon be available. You could even beat the other rental seekers if you can do so in August! Unfortunately, that doesn’t mean you can move within a matter of days – with both landlords and tenants away over the summer, we are finding properties are taking between six and eight weeks to
rent out.

If you would like advice on the rental market in and around Tunbridge Wells, or are looking to either rent out your property or find a property to rent, please contact us today on 01892 249070 or visit:

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