Property news from PWR Letting Agents Nottingham and Mansfield

PWR let 52 properties in April, despite many agents reporting it becoming harder to let properties with the influx of properties into the market that won't sell.Â

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Over the last 6 months many people struggling to sell their home have opted to let it instead, which has increased the supply of rented property in the market place.

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As a result, there has been a cascade effect on rentals from top to bottom, with many rents being reduced to make properties more competitive during these times of over supply.

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It has affected the larger 3, 4 & 5 bedroom properties in the main since there are fewer company tenants in the current financial climate and a lower level of relocations.

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"We are having to work harder to let properties in the current climate" says Simon Perkins, Director of PWR, "we are undertaking more viewings as people clearly have more choice before deciding and we regularly review the asking rents to ensure our properties are keenly priced to let as quickly as possible".

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"As ever, the three most important rules still apply in order to get a property let quickly, which are location, condition of the property and a realistic rental" says Simon, "where a property fulfils these three criteria, we are still letting them swiftly and minimising voids for our clients"Â