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“We need more rented property in Bridgend”

The waiting list for rented properties in the Bridgend area is getting longer and longer, according to the town’s only specialist letting agency, Red Key Property.

Now the agency is urging anyone locally with an empty residential property to make it available to help meet demand.

“Since we’ve opened our branch in August, demand is simply outstripping supply,” says Laura Parry, the company’s branch manager. “And while there are definite signs that the ‘Help to Buy’ scheme has started to affect the letting market in locations like Newport and Cardiff, there isn’t enough stock of new housing the further west you go, and that is driving the requirement for rented property.

“Every property that we’ve advertised has taken just days to let, leaving many home hunters disappointed. We’re sure there are many people out there who have empty properties – houses, apartments, even space above an office or shop which could be readily converted – and every one of those could house a local couple or family as well as earn them a secure income.

“Letting a property in Wales typically produces a return of around 5%,” says Ms Parry, “which is well above what can be obtained through traditional savings accounts.”

While family homes with two or three bedrooms are most in demand, there are also many young people looking to leave home and move into their first apartment.

“The message for anyone looking to rent and be first in the queue when suitable properties come up is to ‘get their ducks in a row’ by pre-registering with an agency and having all the necessary checks and references carried out,” says Laura. “Being pre-qualified will give you a head start and enable you to snap up the best house or apartment.”

And if anyone out there is thinking of letting their property? “Get in touch,” says Laura. “We can provide free, independent advice on what rental they could achieve and what they would need to do to get the best return for their money.”

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