June 12, 2012 9.53 am This story is over 137 months old

Lincoln housing stock at ‘serious low’, say letting agents

Rental market: Demand outstrips supply at Lincoln letting agents, as housing stock is at serious low.

A Lincoln lettings agency says the number of rental properties available in and around the city is at what it calls a “serious low”.

Lighthouse Property Services, based on Carholme Road in Lincoln, says this is due to an increase in the number of tenants staying in one property for longer periods of time, as well as a greater need for rental properties.

Simon Sewell, Lettings Director at the agency, said: “We are getting more calls from people wanting a private rental property than we actually have housing stock on our books – and I can’t see it improving unless more properties become available.

“We have to turn away several potential renters each week which is why we want more people to sign on as landlords.

“We actually have more properties on our books now than we have ever had, but it still isn’t enough to meet demand.

The agency has around 330 private rental properties in the city, and just 13 are currently available.

“We’ve now brought in an offer for new landlords giving them a chance to win their management fees at 10 per cent for the year rather than 12 per cent, to hopefully meet the demand that’s out there,” he added.

“We are very keen to hear from potential landlords to expand on our available stock” added Simon. “With the right type of presentation and accurate pricing, we could use flats, small houses, large houses, bungalows, modern and period homes to fill the gaps.”

Source: Shooting Star