Influx of overseas tenant welcome for landlords

As the economy begins to show signs of recovery, job opportunities are on the rise, with London’s particularly vibrant job market attracting many people from overseas in search of well-paid jobs.

Stephen Ludlow, Chairman at ludlowthompson says: “London’s international mobile workforce is making good money, and they can make excellent tenants for buy to let investors.”

“International workers have the tendency to rent initially whilst they find their feet in a new city. Hence the opportunities for buy-to-let investors are promising.”

New research reveals that 56% of renters across the capital are international tenants, rising to 78% for prime central London.

Research by ludlowthompson shows that the top five countries for rental enquiries in quarter three of this year were:

• France (23%)
• Italy (16%)
• Spain (15%)
• Ireland (14%)
• Germany (13%)

Stephen Ludlow, Chairman of ludlowthompson, says, "Landlords considering trying to attract these upwardly mobile tenants would do to rule out investing in properties that are not within an easy commute of the City and Canary Wharf, which are home to many of the big multi-national companies that attract international workers.

"Some landlords letting to internatinoal tenants as ask for six months’ rent in advance as it is often difficult to conduct thorough referencing of the tenant."