Tenants staying in flats to rent in London may be getting a better deal
Landlords, including those owning flats to rent in London, could be inclined to opt against an increase in the charges placed on a property, one expert has suggested.
Mark Garner, founder and director of LettingZone, said it is in the best interests of the proprietor to prevent tenants from leaving as this prevents costs and unnecessary hassle.
This may lead to some owners deciding against increasing rent by a significant amount, whereas others could choose not to enforce a price rise altogether.
"It is always best to keep your tenant there and keep your tenant happy," Mr Garner said, adding: "Over the last year or two we recommended [landlords] keep rents where they are."
He noted property owners should consider enforcing an increase in rent by only half the market rate in an effort to maintain occupancy in the home.
Last week, Countrywide revealed a 19 per cent increase had been recorded in individuals registering for rental accommodation in the third quarter of the year compared to the previous three months.
By Chris Price
Published 2nd November, 2010
© 2010 Estates IT Limited
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Landlords may be reluctant to push up letting rates if a tenant decides to stay in their property, it has been noted.