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Greycoat Real Estate Experts Point to Rising Rents For Renewing Contracts

Greycoat real estate specialists comment on the UK´s current housing trends. Housing inflation continues to be a problem in much of the United Kingdom. This has been seen for both buyers and sellers. It’s also an issue for those who are part of the rental market in all parts of the United Kingdom.

One of the areas that has been most impacted by the increase in prices for housing has been those who are renewing leases. As the experts at Greycoat Real Estate, people who need to renew these leases know that landlords have the upper hand in the rental market right now.

In fact, such contracts have increased by more than eight percent. That’s even more than those who have decided to rent for their first venture into the property markets in this country.

Greycoat: Very Big Rent Increases

Roughly three in five landlords who chose to let their property to tenants have been able to ask for an increase in the amount of rent they are getting from their tenants. For many landlords and tenants this is actually a decrease in the kinds of rent hikes they were able to ask for last year.

At that time, eight in ten landlords were able to ask for a rent increase when working directly with their tenants, Greycoat states. In general, however, landlords have not asked for the kind of rents they could ask when compared to the overall housing markets in many places in the United Kingdom. Those who examine such markets closely believe this trend is likely to continue this year.