How easy to rent out ?

Mastivision

Hello guys i am looking for a advice to rent out a property in Manchester, Birmingham areas.

My brother is looking to buy a house for renting purpose please advice me regarding that.

How easily he can rent out his house compare to london ?

Thanks

chriserenity

I can't give you any help on the practicalities of renting out - I'll leave that to better qualified people.

I can tell you that from October 2008 all properties in the domestic rental market will require an Energy Performance Certificate. The EPC will last 10 years as opposed to one year for the sales market.

I don't think they will introduce EPCs for rentals in the same way they did for sales (not phased) since there will at that point likely be at least a five fold surplus of inspectors rather than a shortage.

jebervic

chriserenity wrote: »

I can't give you any help on the practicalities of renting out - I'll leave that to better qualified people.

I can tell you that from October 2008 all properties in the domestic rental market will require an Energy Performance Certificate. The EPC will last 10 years as opposed to one year for the sales market.

I don't think they will introduce EPCs for rentals in the same way they did for sales (not phased) since there will at that point likely be at least a five fold surplus of inspectors rather than a shortage.

Listening to Radio 4 on Friday and they were saying that there is already a glut of EPC inspectors.

Re Manchester- London, I would say London every time, although I wouldn't advise anyone to buy BTL at this time.

chriserenity

Yes, there is already a glut of Domestic Energy Assessors. The government themselves have said only a few thousand are needed for full market rollout (in practice fewer than a thousand full time assessors IMO) including all residential sales and lettings but according to the government's own figures there are already over five thousand assessors over England and Wales and over ten thousand in the system:

Assessor Numbers as of 15 Nov 2007

Accredited = 5,794
Qualified = 907 (passed exams and qualified, but they have not yet become accredited)
Passed exams = 3,859
Total in system who have passed exams or progressed further = 10,560

North West 708 + 33 was 675
North East 277 + 17 was 260
Yorkshire & The Humber 468 + 19 was 449
East Midlands 421 + 37 was 384
West Midlands 540 + 22 was 518
East of England 600 + 37 was 563
London 463 + 24 was 439
South East 951 + 47 was 904
South West 702 + 42 was 660
Wales 324 + 19 was 305
Unknown 340 + 7 was 333
Total 5,794 + 304 was 5,490

And more pay their thousands and sign up everyday.

geordie_joe

Mastivision wrote: »

Hello guys i am looking for a advice to rent out a property in Manchester, Birmingham areas.

My brother is looking to buy a house for renting purpose please advice me regarding that.

How easily he can rent out his house compare to london ?

Thanks

That depends on the area, some places are easy to rent and others are more difficult.

He needs to do research. Visit any letting agent and they will tell him that they can rent his property very easily, but you can't trust that. If I were him I would try "going through the motions" of renting a property, that is becoming a tenant.

Look at ads in papers, ring letting agencies etc and find out how quick the properties are let.

If you are seeing that the same properties are advertised week after week then it indicates there are more rental properties than prospective tenants.

Similarly if you ring up about properties and they are always gone then it is a good sign.

roses

Why don't you put up a test advert on a website eg gumtree is popular. See how many phone calls you get will tell you how popular it is.

Mastivision

roses wrote: »

Why don't you put up a test advert on a website eg gumtree is popular. See how many phone calls you get will tell you how popular it is.

Yes Roses:

i was thinking to do this but i though i should take some advice from MSE , i beleive there are many users living in that particular places.

Thanks.