With the local rental market in Bath set to remain upbeat in the first quarter of 2012 (both applicant and viewing levels saw month on month increases of 50 per cent in January), savvy Landlords are capitalizing on the positive lettings market, according to the latest figures from Hamptons International.
The Hamptons International lettings branch in Bath has reported a 20 per cent increase in 'let to rent' applicants since July last year. These applicants are looking to let their own home and rent something smaller within the local area.
Charlotte Knight from Hamptons International in
Bath says: "The significant demand for Bath townhouses
has encouraged homeowners to take advantage of high rental yields
(around seven per cent). A noticeable trend is for these Landlords
to downsize into smaller properties to free up monthly capital and
rent close by."
Set within easy access of London and with a host of popular, local independent schools such as Prior Park and the Royal High, 60 per cent of Hamptons International's lets over the past eight months have been to expats returning to the UK or overseas tenants. There has also been a significant increase in interest from Londoners looking to re-locate to Bath (80 per cent).
Lesley Cairns, Head of Lettings at Hamptons International says: "Bath is a rental hotspot for both international tenants and Londoners looking for a change of lifestyle. The Georgian townhouses, historical setting and proximity to the country are real selling points. Renting in Bath offers tenants the flexibility to 'try before they buy' and is often the first step towards 'moving to the country'."