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Grampa

Rents increase as tenant fees ban approaches

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Yes, we all commented that rents were likely to rise in England & Wales as a result.

Before introducing this change, I believe the Gov' used Scotland as an example. It is already in place there but apparently rents have not increased. Looks like somebody in the Gov' might have been looking at the wrong data.

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Rents will have no choice but to follow the laws of economics. Maybe the big boys of the industry can manipulate rents some but the rest will just have to follow.

Supply and demand is the obvious law, there is demand and it seems supply is still retrictred somewhat. The exodus of eu types due to Brexit will have had 'some' effect to reduce the demand.

So competition is what I would expect most of us to follow. I look at comparable rents once a year in February to determine my increases if any. Generally my increases have been circa 2% and in my limited expereince I haven't seen abnormal increases.

There might be a desire to compensate ourselves for what ever is forced on us but avoiding voids is more intelligent as those losses can't be recovered.

 

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6 hours ago, Richlist said:

Yes, we all commented that rents were likely to rise in England & Wales as a result.

Before introducing this change, I believe the Gov' used Scotland as an example. It is already in place there but apparently rents have not increased. Looks like somebody in the Gov' might have been looking at the wrong data.

I have seem other data/Statistics stating the opposite that rents in Scotland have increased. Having also done a little research and speaking to other agents in England the rents WILL increase. All my tenants are getting them, granted some will be getting them anyway but most will either be getting a larger increase or one that they wouldn't have had normally. 

Definition of Statistics: The science of producing unreliable facts from reliable figures. Evan Esar

“Facts are stubborn things, but statistics are pliable.” ― Mark Twain

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