11 Jun

Landlords 'in better negotiating position'

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."
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