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Solihull Lettings – A Flourishing Market!

Despite changes to landlord tax incentives and increased stamp duty on second home purchases the rental market in Solihull continues to be buoyant.  What advice do we give our potential buy-to-let investors and established landlords?

Despite changes to landlord tax incentives and extra stamp duty impositions on second property purchases, the rental market in Solihull continues to thrive with plenty of enquiries from first-time landlords keen to invest in the area, and a steady stream of workers coming into the borough on contracts with local businesses like Jaguar Land Rover and National Grid.
Our advice to landlords? With properties in central Solihull areas and key locations like Knowle and Dorridge carrying a premium, be prepared to move outside the ‘comfort zone’ of addresses you’re familiar with in order to achieve a higher yield. Homes on the outskirts of the borough will be considerably more affordable but still attractive to renters and can add an extra 1 or 2% to your yield. Look for clean, tidy properties but take your agent’s advice on what, if any, refurbishment needs to be done to kitchens and bathrooms. Focus on safety, cleanliness and freshness of décor rather than investing in the latest high-spec kitchen.
Finally, have your rental property managed. Legislation around Lettings can be detailed and subject to regular changes and the penalties for failing to comply are harsh. An agent can help you find a suitable, referenced client, monitor their upkeep of your property and arrange any maintenance needed, and offer a host of other support services.

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