There is a great deal of fluidity in the rental market at present with tenants feeling more confident about moving to new rental property. This is a result of recent changes in attitude towards the outlook for the UK economy resonating into the confidence required for lifestyle changes. Coupled with the acceptance to longer term renting now being the norm and the expense of climbing on or moving up the housing ladder, there is great demand for property to rent.
However, the fact that over recent years more landlords have left the Private Rented Sector than joined it, due to an increase in taxation, has resulted in a shortage of property to satisfy the demand. Supply and demand economics apply and rent values have moved upwards significantly.
If you are fortunate to be a landlord in the current market conditions, your income is going to increase if has not done so already. This will also conveniently help you offset the increase in taxation that you have been experiencing of late. So whilst the government with its various tinkering of the PRS sector has wanted to reduce costs to tenants with such things as the Tenant Fee Ban, it has ironically done the complete opposite. We'll have to wait and see what the government's next move will be, but no doubt they won't listen to any of us on the coal face!
However, the fact that over recent years more landlords have left the Private Rented Sector than joined it, due to an increase in taxation, has resulted in a shortage of property to satisfy the demand. Supply and demand economics apply and rent values have moved upwards significantly.
If you are fortunate to be a landlord in the current market conditions, your income is going to increase if has not done so already. This will also conveniently help you offset the increase in taxation that you have been experiencing of late. So whilst the government with its various tinkering of the PRS sector has wanted to reduce costs to tenants with such things as the Tenant Fee Ban, it has ironically done the complete opposite. We'll have to wait and see what the government's next move will be, but no doubt they won't listen to any of us on the coal face!