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The usual agents' story: 60%+ over 3 years?
zas31
Posts: 53 Forumite
Hi all, a tenant's point of view.
All agents in the area keep singing the same song: third year on the average year-on-year increase in rent is 20%, which we can achieve; shortage of properties and strong demand (despite of loads of newbuilds).
Where does one get the unbiased information to counter the claims? I know there are many gr**dy landlords as well as agents around, but I ask these to abstain from commenting in this chain. I'd like to be able to get the unbiased point of view. The survey of asking prices is not hugely objective as the rumour goes the let prices are much below the ask price.
Thank you.
All agents in the area keep singing the same song: third year on the average year-on-year increase in rent is 20%, which we can achieve; shortage of properties and strong demand (despite of loads of newbuilds).
Where does one get the unbiased information to counter the claims? I know there are many gr**dy landlords as well as agents around, but I ask these to abstain from commenting in this chain. I'd like to be able to get the unbiased point of view. The survey of asking prices is not hugely objective as the rumour goes the let prices are much below the ask price.
Thank you.
0
Comments
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Rents fall to meet the market in the same way as they rise. Landlords, greedy or not, will be unhappy to have rental voids and they will reduce rents to a point where they get a tenant.
Rightmove is a great source of information, look at your area, set the filters to provide the type of property you are looking for and you will get a good indication of the prices asked and obtained.0 -
There are plenty of sources. Try zoopla, rightmove, findaproperty.
From personal experience, as a LL in London, I have put up rents in all of the last 3 years by between 5 - 10% in my properties.
There does seem to be a slow down in rental growth in recent months, as the house purchase market slowly begins to thaw from it's virtual flatlining over the past 18 months.
Asking prices for purchase are up again this month:
http://www.rightmove.co.uk/news/house-price-index/march-20120
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