The last few years have been tough on landlords, so much so some have been downsizing their portfolios and even walking away. When it comes to the Bath buy-to-let market, it couldn’t be a better time to invest, stresses The Apartment Company’s Lettings and Property Investment Manager, Nicola Wilkes. But why is now the best time ever to purchase an investment property in Bath?
If you have been keeping a keen eye on the Bath rental market you have will have noticed how busy it has become. There are a limited number of properties available, and when they do come onto the market demand is so high, they are not on the market for long. According to Nicola, trends have changed in the city too; pre-pandemic there used to be a bit of movement between tenancies, whereas now tenants are deciding to stay put, and so this has also meant that the number of available rental properties has been low.
“The pandemic has changed working patterns as we know, working from home has become more the norm as companies are more relaxed about remote working. This change has caused a flux of people who are seeking a lifestyle change moving away from cities such as London, Manchester and Birmingham and even Scotland. Bath, as we know, is a city that offers a more relaxed and tranquil lifestyle and provides excellent facilities and good transport links.
“Demand for rental properties is currently the highest it has EVER been. This demand has, as you would expect, pushed up rental prices. These two factors alone are why we are supporting our landlords to expand their portfolios and encouraging new investors into the market.
“Our tenants are professionals – they seek a certain standard of apartment and those that offer a little outside space, such as a balcony, courtyard or communal garden, are extremely popular. The right rental property and location are key if you want to have a successful buy-to-let business, and the Buyer Assistance service that we provide at The Apartment Company can be the difference between a good investment and one that could be problematic.
“The Buyer Assistance service has been designed to aid new landlords in making the right choice of property. We know the best locations and the style of apartments that are being snapped up, but we also know the properties inside out and can read far more from the property listing details than what is on the paper. It isn’t all about the property; my aim is to understand the story of the landlord and why they want to invest. It could be to provide security for their children’s future, be a pension pot, or a passion they wish to fulfil. Understanding their story helps me to identify which type of investment will help them achieve their goal.”
Nicola has been working in the lettings sector for almost 16 years, and with The Apartment Company for the last three. The team has recently grown, giving her support to be able to provide extra services in the investment side of the sector: an area she is extremely passionate about. If you are curious about investing in property or have a portfolio that you are thinking of enhancing, Nicola is keen to talk to you about the exciting Bath investment market. Call her today on 01225 303870.