Tenants profiting from the state of property market

With the state of the market as it is, it is surprising to find that some people are actually making a profit, the tenant. With a market where buyers can’t buy and sellers can’t sell, the costs of rent are going down to ensure that landlords can still find tenants.

One property finder website produced figures showing an increase of 13.8 percent of properties for rent in June, with a further 0.8 percent increase in July and in August a 4.6 percent increase.

The increase in properties that have tenants is reflected by the price in rent. The average cost of rent in the UK during June was £950; however this was reduced to £850 in July and lowered again in August to £835.

An important aspect to renting a property is to have insurance, to protect your property against any unforeseen circumstances; this can be purchased from www.insuremyletproperty.co.uk, offering landlords insurance from a panel of UK insurers.

05/11/2008 10:20:41