LettingZone rep urges buy-to-let mortgage holders to be cautious with rents

Date:Monday 1st November 2010
Author: Susanna Kavka

Buy-to-let mortgage holders should be careful how much they put their rents up, according to a spokesperson for LettingZone.

Director and founder of the company Mark Garner stressed that it is fine to raise the amount a tenant pays if their rate is out of line with the market price.

However, he recommended only increasing the rent by a significant proportion if a property is empty, as upping the cost too much could upset people living at the house.

"A landlord doesn't want the cost and the hassle of a tenant leaving - it is always best to keep your tenant there and keep your tenant happy," said Mr Garner.

In his view, there will be plenty of property owners who will put their rents up, but not by much.

Rental demand is currently looking strong, with Countrywide reporting a 19 per cent increase in the number of people signing up to find such accommodation in the third quarter of the year compared with the same period of 2009.