London landlords find 10% rent increase
by Morag Lyall
Landlords might want to expand their property portfolio in London as rents have gone up nearly ten per cent in the past 12 months.
According to Knight Frank, residential rents are still rising after a 2.6 per cent increase in the three months to June alone.
Much of this rent increase
had been put down to demand and supply.
The number of tenants had risen by five per cent, while stock dropped by 25 per cent, signalling the perfect opportunity for landlords who can afford a new buy-to-let investment.
Commenting, Ed Mead, director of estate agents Douglas & Gordon, said that after a terrible 2009 where rents dropped exponentially, landlords are increasing them once more.
He also noted that the poor sales market is driving people to tenancy agreements
As for the future, "the credible signs are that it is going to be a very busy rental market," he explained.
"If it is a busy rental market then the chances are that rents will be slightly on the way up."
- Landlord and Tenancy News from Lawpack: Solicitor-approved Rent Increase Notice (Section 13) with expert guidance on how to complete the legal form
Published on: July 23, 2010
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