Landlords face higer revenue
A letting agency HomeLet has released figures showing that 98% of landlords have expressed great optimism for the next 12 months. This shows a growth of 86% compared to the same survey taken out 12 months ago. The landlords surveyed said they either expect the letting market to; stay the same, grow or to rise substantially over the next year.
More data released by LSL Property Services showed that landlords received a 7.6% return during 2009, which increased their gain to £12,740. This figure compares to an average loss of 8.8% experienced in 2008, showing that the rental market has improved a huge amount over the last 18 months.
A major factor that contributes towards the landlord's success over the past months is the recently revealed figures by UCAS that show university applications have risen by 46%. With this increase comes a higher demand for student accommodation, landlords can rent their property per room or to the university is desired increasing their average rental income.
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February 10th 2010