Landlords with good tenants should offer lower rents
26th Sep 2012
It was reported earlier this week (September 24th) by LSL Property Services that landlords are seeing a purple patch at the moment, with prices in their property to rent being pushed ever higher by demand and arrears coming down.
However, one property expert has advised that it could be a good move to not force rental prices high to follow the market, as having reliable and good tenants in a property can be worth every bit as much.
David Lawrenson, private rented sector expert at LettingFocus.com, said: "They want to keep good tenants rather than go through the cost and expense of getting new ones who may not be as good. Once you have got someone that you know, you want to hold on to them. To a certain extent, they are willing to try to accommodate."
For this reason, he advised that it can be better to keep rental prices competitive, as this could stop tenants from feeling there is a benefit in them moving to another landlord to pay less money.
He said that a good way to do this is to stay just below the market average, as this will show tenants the benefits they are getting from living at your property.
Posted by Staff Writer: Robin Stenson
© Zoopla Property Group Limited