21 Mar

Rent rise for property to let in Devon?

Rent rise for property to let in Devon?

The monthly cost of property to rent in Devon and Cornwall could soon rise as landlords across England boost their rental incomes.

Almost a third of landlords have increased rents during the first quarter of 2011, according to Paragon, with almost five per cent of respondents boosting their income by over eight per cent.

Demand for houses to rent in England is particularly relevant to the south-west, with a busy summer season ahead.

Increased demand for holiday houses to rent in Cornwall, Devon and other south-west coastal towns are up by almost 70 per cent compared to 2010, according to new research from Knight Frank.

Further demand for holiday homes on the coast could see monthly rents further increased by buy-to-let investors.

In addition, increased demand could prompt buy-to-let investors to buy houses for sale in Devon or Cornwall ahead of peak summer months.

Nigel Terrington, Paragon chief executive, says significant tenant demand has helped landlords to increase their overall rental income.ADNFCR-1222-ID-800470298-ADNFCR

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