News

Rent Increases

By Tony McPherson

There have been recent media reports on rent increases, for example The Press 8th July 2010 ‘Rent Rises as Demand Increases’

We have achieved modest increases on well presented, heated homes in sought after locations.  Properties with no heating or insulation in less preferred areas have struggled to attract reliable tenants.  These properties will not sustain rent increases.

At the end of the day market forces will determine rent levels, not by landlords seeking to raise rents due to increased costs i.e. rates, insurance etc.

Medium to long term rents will increase through supply and demand, we are now entering a third year of low residential construction numbers.  This coupled with immigration figures will see rents increase.

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