The Property Rental Market

There are several contributory factors that led to the increase of interest in rental property, the largest being national news reports about pension funds failing to provide the level of incomes promised when they were sold. As a result more people are taking responsibility for setting up their own retirement fund through acquiring property to let out.

Open Door Properties has monitored the growing trend since 1988 and was ideally placed for the new phenomenon in the late 90's by providing a new a unique specialist letting service catering for individuals, couples, companies, country estates, inheritance property, investment portfolios, consortiums and developers.

In the early days growth in the letting sectors was slow but has, more recently, been fuelled by low interest rates and introduction of "buy to let mortgages". These multi-faceted products have removed the financial burden of the old commercial rate mortgage on rented property. Most finance houses offer these mortgages which enable people of varying ages and professions to use rental income to pay for a share in one of the country's greatest assets - Property!

Who are the tenants?

Faster transport, the speed of communication and the growth in computer technology have all played their part in changing the way we work and where we work. A move away from the inner city work environment has given people greater flexibility over where they can work and live. In addition, rising house prices have meant many people cannot get onto the "property ownership ladder".

Open Door Properties tenants are a mix of local and commuting working people ranging from businesses, single professionals, business people from overseas, couples, families, semi-retired or retired people. Some of our tenants own their own home which they let out while they live in other parts of the country. Whatever the type of tenant there is never enough suitable property to meet the demands of an ever increasing population.


Why do owners use letting agents?

Many property owners find that the responsibility, legislation and various levels of communication required in finding the right tenant and conforming to the various legal regulations too daunting.

Our Landlords also use us as a "buffer zone" to keep the owner / tenant relationship on a sound business footing and due to our specialist service, all Open Door properties' owners need do is relax and receive a monthly income whilst we, the experts, take care of everything.

So, why property management? Lets look at the factors - the eventual growth in the market place, the failure of some pension funds, the buy to let mortgages, the available properties, the variety of tenants, the unique letting service. All these add up to make an ideal business opportunity for the right person to build a property portfolio in an ever expanding market place.

Property management couples a rewarding "service industry" career with a recession proof growth income, in that once it's under way, business income isn't wholly financially dependent upon making a sale on the day!