New Renting Trend Grows ‘At The Double’

27 10 2011

 There is a new trend gaining momentum in the residential lettings market – ‘Double Renting’.

Home owners struggling to sell are taking up the option of letting out their existing home to provide an ongoing income stream, whilst moving into another – lower cost – rental property themselves.

This has created a curious situation in which a home owner becomes both a landlord and a tenant. But for many it is the ideal solution if they are struggling to sell their property for the desired asking price. It means they can make alternative arrangements without playing the ‘waiting game’ for a sale. With double renting, there is no stamp duty or associated legal costs, as there would be in a selling and buying situation. The process is instantaneous and it also enables home owners to stay ‘invested’ in the property market. With property prices at an all time low, they can become renters themselves elsewhere and wait for the market to pick up and sell at a profit.

‘Double renters’ need to ensure that they attract the right kind of tenant for their property; carry out detailed referencing and also conform with the wide range of insurance, legislative and health and safety requirements related to private property rental.

Here at Belvoir Stoke-on-Trent, our team of property specialists can provide expert guidance and assistance and ensure that the whole process is handled both professionally and efficiently, leaving property owners safe in the knowledge that their home – and investment – will be expertly managed and maintained whilst they are away from it. Contact us now on 01782 321400 or email at stoke-on-trent@belvoirlettings.com

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10 12 2011
Private Landlords Tyrone | Landlord Portfolio

[…] ‘top of agenda’Tenancy Issues………Landlord Guide On Referencing TenantsNew Renting Trend Grows ‘At The Double’ /* […]

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