Basically, the surveys and agents/landlords we talk to, tell us rents are stable and very little is happening! There are a couple of exceptions to this but in the main indices suggests rents are going up more than inflation, while Belvoir and Homelet indicate rents in the area are only rising in line with inflation.
If you are a landlord/tenant in Scotland, rents vary from £550 through to £700. Rents are typically rising in the city and for high quality accommodation, whereas rents tend to be falling on the outskirts.
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xxx | If you are a landlord this means when rents aren’t keeping up with inflation or worse still are falling, you need to try to remain cash flow positive, which may mean minimising your costs. Don’t compromise on a good service from letting agents or stint on maintenance costs. Your highest costs are likely to be your mortgage, so if you can, look to see if there is a better deal available.For more information read our Financing a Buy to Let Checklist |
| If you are already a tenant or are looking for rented accomodation, the good news is rents are falling. It means you can take your time looking for a good home. However, choose your landlord carefully. Make sure you aren’t renting at such a low cost they cannot afford repairs. For more infomation on renting read our How to Rent a Property Checklist |
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xxx | Letting Agents – As with all areas across the UK, stock is pretty hard to come by. When rents aren’t keeping up with inflation, landlords need a lot of help understanding the best way of maximising their rents. Make sure you are offering a long term buy to let service rather than just a ‘commodity’ service to put a few photos on line. For more information on letting agents read our Choosing a Letting Agent Checklist |
If you are a landlord/tenant in Wales, rents vary from £545 to £560 up to £630 from the new Move with Us index. In the main, the surveys are saying rents are rising slightly across Wales, although if you are in the north area, it appears there are some falls.
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This is a fairly static market so Landlords ensure you keep an eye on your costs without compromising the quality of properties you let out. Tenants are looking for a ‘home’ rather than just a property to live in. For more information |
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xxx | The good news for Tenants is some rents are rising and others falling, check out what’s happening in your local area. Try to get a good deal if you want to rent long term. To check if you should be renting read our Is Buying Cheaper than Renting Checklist |
| The Welsh government has recently published a White Paper on a new legal framework for renting a home in Wales which will affect Letting Agents. The White Paper 'Renting Homes - a better way for Wales' proposes a new legal framework for renting a home that is fair, simple and efficient. It will help both tenants and landlords and enable the housing system as a whole to work more effectively. For more information on Letting Agents read our Why Join a Landlord Association Checklist |
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