Good tenants 'more important than short-term rents'
23rd May 2012
It is more important for landlords to secure good tenants to fill their properties than it is to maximise short-term rents, one specialist has noted.
UK rental property expert James David made the comments after recent figures revealed that rents rose by 0.5 per cent on a monthly basis as rental demand increased in April, with annual rental inflation standing at 2.4 per cent.
Mr David commented: "It is all very well to read in the paper that rents have gone up, but a landlord shouldn't put their rents up by ten per cent just because that is what was in the papers at the weekend."
Instead, landlords need to understand their marketplace, and in some cases they may be better off taking a lower rent from a family that will rent for a longer period of time or has a better credit rating rather than trying to maximise their income, he noted.
"Securing good professional tenants with excellent references is far more favourable than maximising rents in the short-term," the expert added.
It comes after Tom Entwistle, from the advice organisation Landlord Zone, recently said it is a wise decision for landlords to screen potential tenants before they allow them to occupy their property.
Posted by Staff Writer: Robin Stenson
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