More cheer for landlords as rents go up again and arrears fall

Landlords had cause to celebrate in October as tenant arrears dropped significantly and rents rose for the ninth consecutive month, says LSL Property Services plc, which owns lettings agents Your Move and Reeds Rains. LSL’s latest buy-to-let index shows that in October UK rents rose by 0.4% to £691 per month – surpassing September’s record high of £689. Average yields remained stable at 4.9% as rent rises were matched by growth in the prices of rental properties. Rents rose across the whole of the UK – except in Yorkshire and the Humber, where they fell by 1.4%. The growth was most pronounced in the South East, where rents rose by 1.2%, and the North East, where rents increased by 1%. Full article....http://tiny.cc/9oewy