While there is currently reduced activity on the open market in Scotland, all the signs indicate a speedy bounce back now current restrictions are easing. Davidson & Robertson is progressing several new instructions, bringing to market a range of residential properties to let across Scotland, adopting new practices such as video tours and virtual viewings to help make it easy for interested parties to view safely.
There has also been an increase in enquiries and registrations with our rental property database, indicating a latent demand in the market.
It is considered that there are a number of properties which will become available once the bottleneck caused by delayed purchased and inability to secure removal services and it is important that landlords are taking advantage of the emergence of an increased interest in rural property.
The increased interest in the rural property market is attributable to factors like the opportunities for increased working from home and the demand to live in less populous areas.
Previously the market was characterised by the bias for a central belt location and while this may continue, the recent realisation, forced on us during the lockdown, that a great number of us can work remotely has reduced the need to be close to work for commuting reasons.
Moreover, the altered work/ life balance of working from home has significant benefits and there is a verve for the outdoors in which to spend this time.
The key characteristics to consider for landlords and prospective tenants of rural properties include:
- Connectivity; internet speeds, mobile phone reception
- Office space; accommodation that provides an office without compromising bedrooms or living space. If not possible, are there opportunities to convert outbuildings or space for an outdoor office
- Outdoor space; garden space for raised beds, greenhouse, orchard, entertaining and relaxing
- Land; possibility to have a pony paddock and stables, hens or sheep
- Buildings; opportunity to repurpose old buildings for personal use or ability to convert, subject to obtaining necessary consents, to generate a second income
D&R is extensively involved in the management and letting of rural property, working with clients with just one or two properties, right through to those with larger portfolios and those with whole estates to manage.
Niall Milner, Director at D&R heads up the property management service, he said “Fully managed services makes property lettings easier for clients – especially in these current times. We have a real focus on client needs which has really helped build client relationships this spring and summer, looking and planning in advance to take advantage of the opportunities which may emerge throughout the rest of 2020.
We believe the rural rental market in the remainder of 2020 will be competitive, with some areas potentially seeing a small rise in rental levels. There are new properties for rent – with others in the pipeline very soon. Click here to see what’s currently available.
For any landlords looking to tailor their business/portfolio’s to suit a changing market their rental income, we would be delighted to discuss matters with you on a no-obligation basis.
Niall Milner is a Director and heads up Property Management work at Davidson & Robertson.