'Market looking positive' for landlords
Thursday 3rd September 2009Landlords have been boosted by suggestions that the long-term future of the property market will be positive for them.
Mark Garner, managing director at LettingZone, explained that a low interest rate is helping them through the economic downturn.
He added that rental arrears are up compared to the same period last year and that as rates are likely to remain low in the near future, landlords have nothing to be concerned about for the time being.
"Most professional landlords who have been in it for years will be on tracker mortgages, so therefore they will be reaping the full benefit of the lower base rate and their cash flow business will be very healthy at the moment," Mr Garner noted.
The comments follow figures from LSL Property Services, which suggest that rents in England and Wales rose by 0.5 per cent in July compared to June, which is their fastest level in a year.
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