As we kick off 2022, many landlords are continuing to feel the impact from the on-going pandemic and perhaps might be struggling to plan ahead. Firstly, it can help to know the expert’s predictions for the housing market in 2022.  Zoopla’s rental market predictions include:

• average rental prices across the country could rise by another 4.5%
• rents could rise above earnings in areas of the country where it’s cheaper to rent
• growth in London is forecast to reach 3.5%, exceeding pre-pandemic levels

As such, it appears that market conditions are set to be favourable to landlords, with rental prices rising and demand in urban areas increasing. Furthermore, whether you’re planning to expand your portfolio, reduce it or keep it the same it’s important for landlords to be up to date with market trends, to ensure you continually attract high quality tenants and maximise the return on your property rental.

Some of the biggest trends that are predicted to dominate the buy-to-let property market in 2022 reflect topical issues such as climate change and our evolving work-home life. Keep reading to find out our top 3 trends to help you plan your buy-to-let strategy in 2022. 

Working From Home

A recent study by the BBC showed that 70% of the general public and 79% of senior business leaders said that they thought it was likely that workers would never return to offices at the same rate they did before the pandemic.

Whilst it was certainly an adjustment for all those who had never worked at home before, for many to now be close to 2 years working from home, one of the bright sides is that it’s shown people that they don’t necessarily need to fit their lives around work anymore and many are seizing the opportunity for increased productivity and flexibility, with hybrid working between home and office set to be very popular in 2022.

For landlords, single bedrooms have found a new life. Historically landlords looked for two double bedrooms to attract sharers, but one double and one single bedroom is the perfect solution for couples or singles who need a dedicated workspace at home.

Of course, some people simply need a place to sit with a laptop that isn’t the sofa or bed. Aside from dining tables and breakfast bars doubling up on duties, small desks appearing in bay windows, alcoves, under stairs and on landings can be enough to help people create unintrusive work corners.

Outdoor Space

Another direct effect of the pandemic is the increased value that many tenants have placed on having outdoor space or a garden to enjoy. If you are looking to begin or expand your portfolio, don’t underestimate the draw of a garden or balcony as we predict gardens to be a ‘must-have’ item for many prospective tenants this year.

Whilst it isn’t completely necessary to equip the garden of your buy-to-let property with the full furnishings, there are some small extra touches you could add to your outdoor space to both raise the value of your property and attract high quality tenants:

• Ensure the space is attractive and easy to take care of
• Install decking or patios
• Exterior lighting and outdoor heating – an infrared heater can be an inexpensive touch of luxury
• Makes sure the area is private – even a touch of greenery on top of a wall or fence can make all the difference

Energy Efficiency

Climate change and the rising cost of utility bills are two of the biggest new stories dominating the headlines as we kick of 2022. This combination is causing everyone to look even harder at their energy consumption, for both the cost to the planet and their bank balance.

Prospective tenants are increasingly interested in running’s costs when viewing properties, which makes the energy efficiency of your buy-to-let an important factor in its rentability. Government legislation is also set to tighten even further so it’s with taking the time and effort to improve the energy efficiency of your property, to keep you on the right side of the law and save you time and money in the long run.

Not all energy improvements are expensive or require major work, and you can start with simple solutions like:

• low-cost flow restrictors to taps and toilets to decreased water consumption
• room and radiator thermostats to optimise heating use
• insulation of the hot water tank
• draft excluders around doors to reduce heat loss

For more advice check out our blog ‘5 Ways to Make Your Property More Energy Efficient’ for all the information you need.

How Can We Help?

In a crowded rental market, it’s imperative to know who you can rely on to maximise your return on property rental.  If you choose ZFA Group, we will handle the management of your property with expertise and experience to offer you the highest quality service.

If you’re thinking of buying-to-let, chat to one of our friendly knowledgeable employees – we can help you with a range of services, from rent guarantee and property management London, estate agency and property investment, and commercial letting.

Contact us today if you have any questions and we’ll take care of the rest.