Rise in rents revives buy-to-let market

Last week it was announced that the cost of renting a property in England and Wales rose by 1.2% between July and August. This is the steepest increase since August 2010 according to the latest LSL Property Services Buy-to-Let Index, taking the average rental cost up to a record £713.

Annual rents in London experienced the sharpest increase, with some up by 6.6% or £63 a month. Yorkshire and the Humber were the only places in the UK to experience to fall in rental costs, which was only a marginal 0.5%.These latest figures indicate a revival in the buy-to-let market which is great news for landlords, who experienced a 2.6% increase on annual rents in August. The survey went on to suggest that if these values can be maintained over the next three months, investors stand to make a 10.5% annual return over the next year.

Annual rent inflation is currently at 4% meaning the average tenant has experienced a £27 increase on monthly rent when compared to August 2010. What’s more, the latest government figures suggest the rental market is increasing and that one in six homes are now rented, a 1% rise from 2009.

Landmark Systems provide the ideal solution to enable Landlords to manage lucrative investment opportunities emerging as a result of the market revival. KEYPrime Property is Landmark’s next generation property software providing users with comprehensive property, repair and supplier management tools and superior payment and fees control enabling users to more efficiently manage rural and commercial properties.

KEYPrime also provides enhanced business planning through comprehensive management reporting helping to reduce client arrears. What’s more, Landmark Systems provide a complete service package so that users remain in complete control.

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