LettingFocus.com urges buy to let mortgage holders not to be greedy

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LettingFocus.com urges buy to let mortgage holders not to be greedy

Landlords must be careful about how much they charge tenants to rent a property, according to LettingFocus.com.

David Lawrenson, private rented sector expert at the company, pointed out that the sector is quite strong right now, but people should avoid getting carried away in terms of rent levels.

He said: "The only thing is to get the price right; if you are too greedy on the rent then you won't get a tenant. You have got to know your business."

Mr Lawrenson suggested that buy to let mortgage holders should not get complacent, since recent figures show arrears levels have grown.

The LettingFocus.com spokesperson explained that this kind of risk is always present for landlords, even when the market is fairly strong, as it is currently.

His comments follow research by LSL Property Services showing there was a second consecutive month of rent growth in March, with the figure enjoying a 0.4 per cent increase during the period.

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