As new figures from the 2012 HomeLet Rental Index show that UK tenants are now paying more rent than ever before, with the average cost of renting a home increasing to £806 a month, Belvoir Sheffield, the leading Sheffield lettings agency, is advising landlords that now is the time to invest.
The report also found that ‘In contrast to rising rents, tenants are earning less than they did last month and also last year (when comparing income levels from June, July and August of 2011 and 2012), after their average annual income dropped by 1.9 percent and 0.1 percent respectively’
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent Sheffield, said: ” Over the last year rents in Sheffield have increased slightly, but we focus on finding stable tenants for our landlords who will pay their rents on time and look after the property. It is much more important to take care of the long term investment as a landlord.
“Of course these new figures are very positive for the residential landlord because it just goes to show that now only is there a steady stream of landlords and demand is high, BUT yields are increasing.”
The report revealed that while renting in the Capital reached new heights, after increasing by 2.3 percent to £1,272 a month since July 2012, the South West saw the largest annual decrease, after average rents lowered by 3.5 percent to £753 a month.
Earlier this week, Ian Fraser, HomeLet’s Managing Director, said: “The August HomeLet Rental Index shows the average age of the UK tenant has consecutively decreased over the past three years to 32. This is contrary to the average age of a first time buyer that has increased to 37 which could suggest renting a home is the only option for those would-be first time home owners.”
Rick the expert in property lettings services in Sheffield, added: “Those seeking to invest for the very first time are advised to contact Belvoir for a free independent meeting to discuss their options.”
Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Buy to Let Mortgages.
