15 Jul

Landlords 'could see a rise in prices of properties to rent'

Landlords 'could see a rise in prices of properties to rent'

People keen to start letting out properties to rent are likely to have welcomed the news that prices could go up.

Findings released by Easyroommate.co.uk revealed that the cost of renting a room is set to increase by ten per cent over the next two years.

Speaking about these results, communications manager at SpareRoom Matt Hutchinson said that a few things could "affect the prices in the next couple of years".

He added that the government's rent-a-room scheme, which allows people to earn a tax-free income of up to £4,250 a year by renting out a room in their home, could have an influence on how much prices will rise.

The average room price outlined in the scheme has not been updated since 1997 and Mr Hutchinson said it is "way out of date now".

He stated that by making people charge too little for rooms, this "deflates the market", which will affect private landlords.

FindaProperty.com's findings agree with Easyroommate.co.uk's after it showed that the average rent rose by 2.3 per cent over the second quarter of 2010.ADNFCR-1222-ID-19892002-ADNFCR

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