Agents face high rent risk

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High rents risk leaving residential lettings unoccupied for months, one letting agent has warned.

Richard Jones, manager of Lettings Solutions in Colchester, suggested that agents in areas where there are lots of flats will not survive unless they encourage landlords to "price realistically".

He told Housing News: "There are so many empty flats in Colchester that the competition among landlords to attract good tenants is fierce.

"If landlords don't want their properties to sit in the wilderness for months, then they must price realistically."

Mr Jones also notes that many landlords expect to attract the same level of rent that they enjoyed during the housing boom, despite sales figures being at record low levels.

Meanwhile, Paragon managing director John Heron recently claimed that if the housing market does not improve the demand for residential lettings could reach an unexpected level of demand.


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