Landlords receiving close to peak rents
News Category: Industry News
Published: 18-May-2010
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Landlords could soon be receiving record amounts of rent, according to letting agent network LSL Property Services.
LSL's latest buy-to-let index indicates that over the last year, the average landlord will have made close to £20,000.
This is made up of £7,115 in rental income and £12,650 in capital appreciation.
David Brown, a spokesman for the firm, stated that although capital growth is important for landlords, it is rental income that allows them to pay their mortgages.
He said: "Investment in buy-to-let must be based upon the strong underlying fundamentals of rental income, yield and tenant demand."
"At present, these look very attractive."
LSL also found that rents are now close to challenging their highest ever point from August 2008.
This comes shortly after Easyroommate.co.uk managing director Jonathan Moore stated that landlords and letting agents could be set to benefit from the inability of first-time buyers to get a foot on the property ladder.
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