New landlords urged to come forward

With house prices continuing to slowly rise and ‘reluctant landlords’ seizing the opportunity to sell in a more secure market, local letting agent Haart says there are more opportunities for landlords to capitalise on stabilising rent prices.

The Haart lettings branch which is based in Clapham Common is part of the country’s largest independent estate agency group and has already seen a rise in the number of landlords achieving the asking price for rent.

Lettings Manager Jackie Gregg said: "Demand for rental property is still high but with fewer properties available, the balance between landlords and tenants is once again equalising as tenants lose the platform to negotiate on price.

“With the supply reducing, we are expecting to see rent prices stabilise and even begin to increase. We would urge new landlords to come forward as there is now a reduced supply of rental properties on the market and still a high demand. For new landlords, the prospects of gaining a good investment are high.”

According to the most recent survey statistics from the Royal Institution of Chartered Surveyors (RICS), the falling cost of renting has already slowed in the three months to July 2009.

Andrew Berry, Managing Director of Haart, added: “When house prices were falling sharply, a trend emerged of "reluctant landlords" - homeowners who were forced to let rather than sell.

“As the sales market stabilises we are seeing more homeowners who felt pressurised into the private rented sector, once again having the option to sell. As a result, the choice for tenants has lessened, giving less opportunity to haggle on price.

“However, it is certainly not all doom and gloom for those looking to rent. Rather than holding the upper hand in trying to push down asking rents, we are seeing that tenants are haggling over quality and ensuring they are getting the most for their money.”

Prospective landlords or tenants are invited to contact Haart in Clapham Common on 0207 498 2133.