{"id":345,"date":"2010-11-22T08:25:31","date_gmt":"2010-11-22T08:25:31","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=345"},"modified":"2010-11-22T08:25:31","modified_gmt":"2010-11-22T08:25:31","slug":"691-average-monthly-rent","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/691-average-monthly-rent\/","title":{"rendered":"£691 Average Monthly Rent"},"content":{"rendered":"

\"\"<\/a><\/p>\n

By: Madalena Penny<\/p>\n

After 9 consecutive months of rent rises, according to LSL Property Services, rents have increased a further 0.4% from September to an average of \u00a3691 per month.<\/p>\n

While on the surface it could look as though landlords are making hay while the sun shines, the rent-savvy landlord is all to aware there\u2019s a glass ceiling on rent rises, even if the sun does shine brightly through it.<\/p>\n

Statistics will only indicate so much, revealing a logical direction.\u00a0 However there is only uncertainty as to the affect of the impact of housing benefit cuts, which will be applied next year.<\/p>\n

Government policies\u2026they are a changing.<\/p>\n

The average national household income is estimated at \u00a325,000 per annum, if private sector rents hold at \u00a3700 per month, this would in effect account for \u00a38,400 in rental expense per year.<\/p>\n

The LSL property group, who own letting agents, Reed Rains and Your Move revealed through their latest buy-to-let index an average yield 4.9% on rental properties.\u00a0 Incorporating house price increases, the figures are indicative of an annual return of 8.1%.\u00a0 A great return on investment if you can get it.<\/p>\n

Tenant Arrears<\/h1>\n

Again, according to LSL\u2019s index, tenant arrears are also encouraging.\u00a0 As for the second consecutive month arrears fell from \u00a3229.3million in September to October\u2019s unpaid \u00a3221million.\u00a0 Housing has become seriously more significant, mainly because there isn\u2019t much of it about these days and tenures are increasingly shifting.<\/p>\n

Through a lack of available housing, a growing population, social housing policy changes and restricted lending, the private rented sector has been thrown into the forefront and bearing the brunt of government blame for housing benefit rises.\u00a0 Obviously, these have nothing to do with rising unemployment and are completely down to landlord armies dragging tenants off the street and making them sign LHA tenancies by pointing guns to their heads\u2026..<\/p>\n

With Christmas a mere month away, landlords only wishing for Santa to deliver the rent may be sorely disappointed as one of the worst periods for rent arrears approaches, it will be worth monitoring the next couple of indexes from LSL.<\/p>\n

Investment\"\"<\/a><\/h1>\n

The greatest growth of PRS investment will probably be on the outskirts of London, where many tenants will migrate, once the housing benefit caps are introduced next April.\u00a0 While the government are changing the goalposts, investment in this sector can only increase regardless of the cuts and impediments.<\/p>\n

By closing down the regular routes of social housing and banking restrictions on mortgages a path to the private rented sector has been created and is presently the only direction tenants and would be first-time buyers can travel.<\/p>\n","protected":false},"excerpt":{"rendered":"

By: Madalena Penny After 9 consecutive months of rent rises, according to LSL Property Services, rents have increased a further 0.4% from September to an average of \u00a3691 per month. While on the surface it could look as though landlords are making hay while the sun shines, the rent-savvy landlord is all to aware there\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[65],"yoast_head":"\n£691 Average Monthly Rent - Legal For Landlords<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/691-average-monthly-rent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"£691 Average Monthly Rent - Legal For Landlords\" \/>\n<meta property=\"og:description\" content=\"By: Madalena Penny After 9 consecutive months of rent rises, according to LSL Property Services, rents have increased a further 0.4% from September to an average of \u00a3691 per month. 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