It's clear no matter what state or city you live where there is high demand for real estate you will find a buoyant rental market. But the way landlords let real estate is changing and in London, it reflects the change that coming to us all.
I concentrate here on the capital of the UK London and its rental market changes and how it serves to boost those suppliers to the market business. I speak to a veteran cleaning company director Stefan Kiryakov on how he has seen a growth in his business owing to the way the market has moved from long term rentals to short term rentals
The shortage of rental properties in the capital is driving up rents The reason for this is to fold. Many blame increased taxation and red tape which led to accidental landlords simply selling up and getting rid of their buy to let headaches. Others have seen huge house price increases and with the fear of Brexit looming have sold their rental property reducing and reducing supply.
Like many cities London accommodation is always in demand, letting your home while you go on holiday can not only cover your fixed costs but also bring you a significant profit. So we have the new Airbnb generation of short-term landlords.
End of Tenancy cleaning business growth
One sector that is benefiting from the way landlords let their homes is End of Tenancy cleaning sector.
My interview with Stefan Kiryakov company director at SYK Cleaning reveals another side to the rental market. His company has been operating in London for over 8 years and have seen significant changes. In particular how agencies have become increasingly more professional and steadily busier.
“ The last 5 years have seen a significant increase in activity for the end of tenancy cleaning coinciding with the changes in how landlords are letting their homes’. This has contributed to the cleaning sectors growth and the increase in our own company growth at SYK Cleaning”
For the landlord cleaning sector, the future appears rosy except for one doubt Brexit. Stefan Kiryakov
“ The uncertainty of Brexit and when it happens the effect it will have on us a business to attract new staff is of real concern to us. Despite the growth of the business for me, it’s the biggest concern to be able to continue expansion
without staffing problems”
When you let a property to a tenant, you are giving them the right to live in it as their home. This restricts you in key ways, for example, the manner and frequency of landlord property inspections. However, the general consensus among professional landlords is that it also gives the tenant the right to live in the property more or less however they wish – and this includes in a state of mess.
The rule of thumb is, the tenant has an obligation to return the property in the same condition they received it in, minus damages caused by wear and tear. But, don’t get it twisted, because there’s a difference between cleanliness and wear and tear; while an item can be worn and aged, it can still be clean.
In reality, the situation is as simple as that, and most tenants usually don’t cause any problems; they leave the property in an acceptable condition (if you’ve hit the jackpot, they’ll leave it in a better condition. It happens, surprising). see ActiveRain post who is responsible for cleaning up the yard
However, and as you’d expect, there is a notable volume of issues when it comes to the end of tenancy cleaning, which is why it’s the single biggest cause for deposit deductions.
I found this article useful Dealing With Messy Tenants & End Of Tenancy Cleaning Guide