Is Leicester a good area for landlords to invest?

1. Rental Market: Leicester has a significant student population due to its reputable universities, which can create a strong demand for rental properties. Additionally, the city's diverse economy and employment opportunities attract professionals seeking rental accommodations. Understanding the local rental market dynamics, vacancy rates, and rental yields will help assess the potential returns on investment.

2. Property Prices: Leicester's property prices are generally more affordable compared to some other major cities in the UK. This affordability can be attractive to landlords looking to enter the market or expand their portfolio. However, it's crucial to evaluate the specific neighbourhoods and property types to ensure a good balance between affordability and rental demand.

3. Infrastructure and Amenities: Leicester offers a range of amenities, including shopping centres, cultural attractions, and leisure facilities, making it an appealing place for residents. Good transport links, such as the motorway network and rail connections, can further enhance the attractiveness of the area.

4. Development and Regeneration: Consider the local development plans and regeneration projects in Leicester. Areas undergoing regeneration can present opportunities for future capital growth and increased rental demand. Being aware of any planned infrastructure improvements or major investments in the area can be advantageous.

5. Local Regulations and Legislation: Familiarise yourself with the local landlord regulations, licensing requirements, and any recent changes in legislation that may impact your investment. Compliance with legal obligations is crucial for a successful landlord-tenant relationship.

As with any investment, it's recommended to consult with property professionals, such as local real estate agents and property management companies, who have in-depth knowledge of the Leicester market. They can provide valuable insights and guidance specific to your investment goals and circumstances.

Written by First 4 Lettings

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PERMITTED PAYMENTS

As well as paying the rent, you may also be required to make the following permitted payments:

1) Holding Deposit: Up to one week’s rental

2) Deposit: One month’s rental (5 weeks rental dependent on individual’s circumstances)

3) Payments for utilities (gas, electricity & water), communication services (telephone & broadband), Installation/Subscription of cable/satellite, TV licence and council tax

4) Default Fee (late payment of rent): If full Rent is not paid within 14 days or more of the Rent Due Date there will be a charge 3% plus the Bank of England base interest rate of the full rental amount until full payment is received

5) Default Fee (breach of tenancy agreement, any other permitted payments, under relevant legislation including contractual damages): For any breach of the tenancy agreement based on the reasonably incurred costs of the agent or landlord

6) Replacement of keys, fobs or other security devices

7) Default Fee (changes to the tenancy): An administrative charge of £50.00 or greater for any assignment, variation or novation of the tenancy agreement made at the tenant’s request (only if agreed by The Landlord and/or The Landlord’s Agent)

8) Payments in respect of early termination of a tenancy agreement at the tenant’s request


TENANT PROTECTION

First 4 Lettings is a member of Client Money Protect which is a client money protection scheme, and also a member of PRS (Property Redress Scheme), which is a redress scheme.