Contact our offices
5 & 6 BAILEY COURT
COLBURN BUSINESS PARK
Estate Agency Offices are located in
BARNARD CASTLE, BOROUGHBRIDGE & RICHMOND
Residential Management Team
A strong end to 2014, ensured our Residential Lettings & Property Management department continued to build on our successes since the merger between GSC Chartered Surveyors and Grays Chartered Surveyors in 2011, and has seen a sustained growth, particularly within the Full Management sector.
Offering bespoke services coupled with the introduction of Landlord incentives, has proved key in establishing a substantial management portfolio for GSC Grays across North Yorkshire & Teesside.
In 2014, although we saw a rise in ‘accidental Landlords’, i.e. vendors that had previously turned to renting out their homes during the economic downturn as an alternative solution for not selling; the general market trend dictated that supply was unable to keep up with the demand. The increase in demand often led to Landlords having the luxury of choosing the most suitable tenant from a number of offers. The ever buoyant market ensured shorter void periods for Landlords, and in the latter months, in some instances saw a gradual rise in rental return.
To date in 2015, we have seen an increase in market activity across the agency services. The renewed confidence in the sales market is seeing some homes snapped up at a faster rate than previous years. Although positive, this has seen an increase in ‘accidental tenants’ – vendors that have sold quickly, but cannot find a suitable home to purchase, and therefore look to the rental market for a short term let. ‘Accidental tenants’ are a contributing factor to the high applicant demands that 2015 has seen to date.
Vendors, or ‘Accidental Landlords’, and investors looking to capitalise on the upturn in the sales market are two key factors contributing to the similar property shortages seen in 2014.
Given the many attractions that North Yorkshire has to offer, such as well-regarded schools, great travel links, picturesque countryside, and a wide range of amenities; we envisage that high applicant demand will continue, that is albeit, if there is a steady supply of property available!
If you are a new Landlord and require further advice, or a seasoned Landlord wishing to let your property/ portfolio, please feel free to contact us to arrange a FREE MARKET APPRAISAL or to find out more about the services we offer. For further details click here to have a look at the property management pages on our website and with GSC Grays being an ARLA (Association of Residential Lettings) regulated agent, this gives further reassurance you are getting the best possible advice available.
Sean Skelton MARLA, Residential Lettings Manager