Letting agent 'on an all-time high'

News Category: Management

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Despite the economic downturn a Yorkshire letting agent is offering a record number of properties to rent in response to growing tenant demand.

Linley & Simpson, in Ilkley, has 669 properties to let and its business is the busiest it has been in its history, reports the Ilkley Gazette.

Nick Simpson from the lettings business commented that tenants are now more likely to become tenants indefinitely as a result of the economic downturn.

"The financial turmoil, lack of mortgages, falling prices and huge deposits needed may have removed the in-built urgency for everyone to become owner-occupiers," he said.

He added that the only new businesses opening in the region in the current climate are letting agents.

Property software could help letting agents take advantage of the current property market, as more would-be buyers switch to rented accommodation because they are unable to get a mortgage.

Figures from Your Move this month showed that this trend contributed to rental demand in December being 63 per cent up on the same month in 2007.

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