A huge shortage of properties to rent in and around Worcester means now is the time to be a landlord, according to a lettings expert.
Just 160 properties are available to rent within five miles of Worcester.
The shortage is “not the norm”, according to Nicol & Co lettings manager James Gwynne, who is urging landlords to see current market conditions as a sign of strong demand and opportunity.
Mr Gwynne said: “If you’re a landlord in Worcestershire thinking of exiting the market because of the doom and gloom, especially with the new Renters’ Rights Act, I would strongly suggest you think again.
“Or if you were thinking of investing in property and now might have changed your mind because of some of the negative things you’ve heard, I would advise you to take a closer look.
“Because there’s lots going on in the market at the moment, in the rental market in particular, with an outstrip of demand and supply causing real problems for people actively looking for properties.
“I therefore believe landlords need to be in the market right now, especially given there’s currently only 160 properties available on Rightmove within five miles of Worcester, which is not the norm.”
Nicol & Co is hosting a free seminar for landlords on Thursday, June 25, from 6pm to 8.30pm, at Sixways, home of Worcester Warriors.
Mr Gwynne said: “On June 25, we will be talking more about why it’s a good thing to be a landlord at the moment, and will be discussing all things in the rental market including tax, financials, and insurance.”
Attendees will also be among the first to receive copies of Mr Gwynne’s newly updated book, HOME: The Ultimate Guide For Landlords, first published in September 2024.
The latest edition takes into account all aspects of the new regulations and considerations brought in by the Renters’ Rights Act.
The event will feature talks from specialists covering tax, insurance, and financial planning.
Tax experts from Ormerod Rutter will offer advice on accountancy matters, while SJL Insurance will provide guidance on asset protection.
Mindful Financial Planning will also deliver insights on financial planning.
Spaces for the event can be booked by calling 01905 799072.