Rental demand 'still strong'
by Gemma Roskell
Despite difficult economic conditions, landlords are likely to find that demand for their properties is still strong.
This is the view of Tom Entwistle, director of online property portal LandlordZONE.co.uk, who said high house prices are helping landlords.
He pointed out that rents have risen
because prices remain out of reach for many first-time buyers, while mortgage finance is also difficult to come by.
"We appear to have reached a stage where homeownership may not be possible for many of those who would previously have bought," he explained.
However, Mr Entwistle warned that it is not all plain sailing for landlords at the moment and urged those considering new investments to assess rental demand in their chosen location before buying.
"Residential property still remains a relatively safe place to put capital, providing you are diligent," he cautioned.
Last month, figures from letting agent Countrywide showed that demand for rented accommodation is running at record levels.
The data showed that there are 5.5 tenants competing for every available property.
- 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: August 16, 2010
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