Landlords rent begins to stabilise

Those tenants who are demanding a reduction in their rent are in for a big surprise. This is due to the lower end of the market bottoming out after the decline of rents over the past year, according to estate agents.

This is all down to the new demand of first time buyers, the average rent price has dropped 5 over the past year, and the average rent property worth £1000 is still taking over a month to shift whereas those worth £500 a week are attracting 2-3 bidders a week.

The rental market has gone from strength to strength since the middle of 2008 as those who cannot sell there house seek people who would want to rent as they look for potential buyers. A survey has shown that the amount of rental properties has risen by 67 in a year.

News Brought to you by Insure My Let Property offering landlords insurance for your buy to let properties.

March 27^th 2009

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