'Marketing key to securing higher rental yields'

News Category: Marketing

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Landlords which can provide the correct products for the right market place can gain increased rental yields in 2009, an expert has said.

James Scott-Lee, spokesperson for the Royal Institution of Chartered Surveyors, commented after the group's study of the private rented market during the third quarter showed that demand for rentals has remained positive as sales in the housing market have slowed.

"The lettings sector has witnessed a boom in 2008 as sales in the housing market continued to slow. Many have been able to take advantage of rising rents to secure good returns," Mr Scott-Lee said.

However, the market place is likely to become more competitive in the new year as many vendors have been forced - by the economic downturn and the difficulties in selling - to become amateur landlords, he noted.

This has created a downward pressure on rents where supply has matched demand, Mr Scott-Lee added.

Experienced landlords are in a good position to take advantage of the UK housing market downturn by snapping up properties at bargain rates while rental demand is strong, Paragon Mortgages managing director John Heron said earlier this month.

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