Landlords looking back to education
The rental market continues to see a stable outlook as figures released yesterday show that Britain is finally out of the recession. The rental market in general has had a positive 12 months but there is one area in particular that has benefited from the recession, student property.
The firm UCAS revealed that applications for the 2009 and 2010 period reached 2.4 million, adding to the national shortage of student accommodation.
The increase in demand has enabled landlords to raise their rental prices, leaving the current average 19% higher than it was 5 years ago. This also helped increase the gross yield to around 8.5% across the UK.
An advantage of student property for landlords is they are almost guaranteed tenants for the length of the student's course, which can range from one to seven years.
News brought to you by Insure My Let Property providing you with a very competitive student let insurance policy.
January 27th 2010