11
Jun
Landlords 'in better negotiating position'
Whereas tenants were in a strong negotiating position when it came
to rental property prices six months, this is no longer the
case.
Research from letting agent Your Move has found that the overall
balance of power may now be resting with the landlord.
Rental prices fell 0.4 per cent on average in April to stand at
£635, the survey said, but the improvement in the property
sales market - as highlighted by the latest price indexes by
Nationwide Building Society and Halifax - has apparently given
renters less leeway when it comes to bargaining for monthly
value.
The study also suggested that there was a 1.2 per cent drop in new
tenant registrations during April, with people returning to the
buying market given as a reason for this trend.
David Newnes, managing director of Your Move, said: "Interest in
the sales market is picking up and reluctant landlords who were
forced by the chronic lack of buyers to let their properties in the
short term are now beginning to put properties back on the
market."
