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The cost of living is rising. That much is certain. But what does that mean for you and your home? Should you sell while the market is still good? Or hang on to it and ride out the storm?

Actually, there’s a third option that you may not have considered – renting out your property with the help of local lettings agents in Pinner.

In this blog post, we’ll explore why renting out your home could be a better option than selling in today’s market.

The Cost of Living Is Rising – Why Landlords Shouldn’t Sell

It’s no secret that the cost of living is rising. Housing prices are at an all-time high, and they’re only going to continue to increase. Wages, on the other hand, have remained relatively stagnant. This unequal growth has resulted in more and more people being priced out of homeownership.

In fact, recent reports have found that one in three households are struggling to afford their household bills, including mortgage payments[i]. And as the cost of living continues to rise, that number is only going to grow. So, what does that mean for you and your home?

Well, if you’re thinking of selling, you may want to reconsider and get in touch with a lettings agent in Pinner instead. With more and more people being priced out of the market, there are fewer buyers and more sellers. That means that you’ll likely have to sell your home at a lower price than you would have a few years ago. On the other hand, if you’re thinking of renting out your property, now is a great time to do it! There’s an increasing number of people who are looking for a tenancy but there’s a limited supply. That means that you can get better rental value for your property.

Three Great Reasons To Let Out Your Property

Why would someone want to be a landlord? If you have no immediate need for the property and are willing to take on its responsibilities, then letting could make sense. Here are three top reasons to consider doing so:

  1. You’ll have additional income, regularly – If you want to make money while living abroad or in another part of the country, renting might be an option worth considering. For example, if your plan is on returning home eventually but not right away then letting a property could give you additional sources of income when coming back into town.

  2. You’ll be able to move quicker – If you need the money now and don’t want to wait for a sale, renting out your property might be an option. Tenants can often be found quickly if they’re ready right away.

  3. Good tenants look after the property – Although it is a challenge to find the right tenants, when you do they can make your life as a landlord easier. Before choosing them for the property use some screening process or get acquainted with potential renters beforehand so that any problems don’t arise from having unresponsive inhabitants in control of large amounts of money and resources.

So, if you’re thinking of selling your home in today’s market, think again! Renting it out could be more profitable and give you the flexibility to wait for the perfect buyer when the time comes.

And this is where we can help. Here at Paige and Petrook, we know the lettings market inside out. A family business, established in 1967, we have endeavoured to be ahead of the game when it comes to residential lettings for tenants and landlords in North London. With securing a home being a vital personal service, it only makes sense to offer our clients complete professionalism, transparency and commitment. As a result, our lettings service is well established and renowned for its efficiency and reliability.

Our team of qualified lettings experts work with landlords and tenants to place the right tenant in the right property. We consider all your requirements and preferences, and we search through our extensive database of properties to find the perfect match for you. We pride ourselves on our ability to find the perfect property for our clients, and we’re always available to offer advice and support throughout the process.

Interested? Then consider getting in touch with our lettings agents in Pinner today!

Contact Paige and Petrook For Lettings Services In North London

Please take the time to browse our website to familiarise yourself with our lettings services. For more information and full details of all the lettings services we provide please call us on 020 8866 5666 or contact us by email at info@paigeandpetrook.co.uk

[i] https://www.theguardian.com/money/2021/oct/21/third-of-low-income-households-unable-to-pay-bills-finds-research

A very professional and personal approach and excellent local knowledge of Pinner and the surrounding areas. We have always been impressed with the attentive and responsive service provided by the Paige & Petrook team.

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