Landlords urged to get the price of rent right

by Sarah Ashcroft

Rental prices need careful consideration, otherwise landlords could find themselves without any tenants, one expert has noted.

David Lawrenson, private-rented sector expert at LettingFocus.com, emphasised that being too greedy will not work in the current economic climate.

He pointed out that market conditions are pretty good for landlords at the moment, but this does not mean that problems cannot be encountered.

"Whilst voids have certainly gone down and rents are relatively strong, there are some other figures showing that tenant arrears are at a higher level than has been the case in the past," Mr Lawrenson highlighted.

The expert added that there is "always a risk" when entering the private-rented sector.

His comments follow the release of figures from LSL Property Services, which revealed that average rental costs increased for the second month in a row in March, rising by 0.4 per cent on February's levels.

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Published on: April 18, 2011

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