Looking to increase your rental income?
28 February 2017
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Are you looking to increase your rental income?
Are you considering letting, but not sure if you have the right property?
Maybe it’s time you considered room lets…
What are room lets?
Simply put, it is letting out a property on a room-by-room basis – often to unrelated people – rather than as an entire house to people that already know each other. You give a tenancy for each ‘room’ and the tenants share communal facilities, like the kitchen & bathrooms, etc.
Why should I consider room lets?
There is a rapidly increasing demand from young professionals who are unable to purchase a property and who are looking to live in a type and style of property that they would not be able to afford to rent on their own.
Also, if you are looking for ways to counter the current ‘squeeze’ on landlords and boost your rental income, room lets could be what you are looking for. A lot will depend on your property, so if you are interested in finding out more you should contact us but, typically, the right property when let using this method can achieve around a third more rental income.
What do I need to do?
Preparing a property as room lets can involve quite a lot of work upfront to make sure it's done right. Don’t panic though – we are here to help. We have a specific room-let strategy, to help you maximise the return on your investment and make sure you are 100% compliant with all relevant legislation.
Contact us now and we can take you through the process to make sure if it’s the best fit for you.