Rent reviews: time to act for landlords?

The latest research from Knight Frank suggests that average rents across the country are expected to increase by over 4% by the end of 2022, and up to 17% over the next 5 years.

With inflation hitting 7%, and the continuing trend of low-stock levels in all areas of the country, rent increases will be all too common in the coming months, as landlords begin to reap the rewards of staying in the private rented sector despite the constant introduction of new, anti-landlord legislation.

However, before you jump on the bandwagon, it’s important to take into account your tenants circumstances, as well as the current situation surrounding the ongoing cost-of-living crisis, as implementing a rent increase could be counter-productive in some circumstances.

If you're unsure if the rent you charge and the yield you achive is correct, maybe it's time your property had a rent review? And if you're unsure about the best way to go about implementing a rent increase, we can help.

Get in touch with our lettings and property management team on 0161 511 5339 or complete our contact form to find out how to claim your FREE rent review and advice on how to implement any increase that we may recommend!