FROM booking.com to Airbnb, short letting supply and demand is transforming the rental landscape, a trend that is showing no signs of slowing down anytime soon, whether we like it or not.
With the traditional rental market being plagued with challenges, including Brexit; the anti-landlord taxes and stagnating house prices, landlords and developers are struggling to keep their heads above water.
However, there’s another side to the doom and gloom, a side where smart landlords and developers are cashing in; achieving huge rental rises that are averaging from £1,250 to in excess of £3,000 per month. For the exact same property, they let the year before, with no voids.
Dues to its success, this newer side of the market is seeing landlords and developers flocking towards it in their droves. And it seems it’ only a matter of time before this rapidly expanding rental niche becomes the new rental market.
More and more profit driven landlords and developers with vacant properties are pulling their properties out of the old traditional rental market and into the new one, where they stand to earn up to 100 per cent more rent per year from the exact same property.
By operating in this new, unregulated rental market, these smart landlords now have an unfair advantage, because they are now no longer affected by the anti-landlord tax, something which cripples traditional market landlords returns by squeezing them to levels below what they need to make their buy to let investment viable.
Not only that, but landlords and tenants within this new market are no longer held prisoner to a tenancy agreement, or the regulation and restrictions of the ridged housing act, an act that’s written in favour of the tenant.
This method of letting also has huge tax advantages for landlords and developers such as their rent is not treated as income, which means they are not pushed into the higher tax bracket, instantly saving them thousands in anti-landlord tax, unbeknown to the traditional or conventional buy to let landlords who don’t have this unfair advantage.
Entrepreneur Ryan Otto, of the same day renting service theyrentanyhome.com said: “Right now, the landlords and developers we are working with are earning between 25 to 100 per cent more rent than they received 12 months ago.”
Their website states that for a limited time, and by application only, they will work with anybody on a free consultancy basis, and help you set up and prepare your property to increase your rent from 25-100 per cent above the market average.
A very bold claim, but one which does in fact, assuming they deliver on that promise, completely removed the risks for any curious landlord currently thinking of short letting without any previous experience. Or even for those landlords already short letting but not achieving the level of success the company claims to deliver up.
From one landlord to another, its risk free and fee free, so there’s nothing to lose and everything to gain.
The likes of sites such as booking.com and Airbnb have profoundly disrupted how landlords choose to let out their properties, creating a vacuum on the supply of affordable housing for tenants that need a home for the long term.
As more and more landlords are drawn towards the promise of lucrative rental returns from companies such as theyrentanyhome.com promise, it’s likely that the rental market as we know it today will be unrecognisable in a few years to come.
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