Greycoat Real Estate Wants Landlords and Tenants to Save Money Amid Rising Costs

New research from the DPS (Deposit Protection Service) mentioned that landlords are increasing rental prices. According to Greycoat real estate specialists, the primary reason is rising expenses. They want to cover their expenses by raising rental prices. 

What that does is raise monthly costs for the residents living there. Managing Director Matt Trevett believes that rental market demand is high now and in the future. Because of this, at Greycoat he encourages an honest and open conversation about the costs between landlords and tenants.

Meanwhile, Zephyr Homeloans Managing Director Paul Fryers stresses that rising interest rates are not the reason for raising rental prices. DPS research stands by that; fifty-four percent of landlords say that mortgage requirements have no bearing on their decision to do this. Greycoat keeps on sharing that fifty-three percent of those people say a letting agent had no bearing on raising costs. 

However, it is a coincidence that interest rates are rising simultaneously with rental prices. Of the 75% of landlords who will increase the rent, 40% already did it within the past year. The other 35% expect to do so shortly. As for the reason, 72% want to match rising local rental prices. According to Greycoat, it was an influential or very influential factor in their decision. The second most popular reason is increasing compliance and legislation costs (68%). 

Rising maintenance expenses are next at 62%. The last reason is risk related to the landlord’s legal rights. Agents at Greycoat Real Estate see both sides of this troubling issue. Landlords must recoup their money to offset costs, but tenants struggle to make ends meet. We believe conversations between landlords and tenants could get a resolution going. We encourage landlords and tenants to meet us so we can find a solution that suits both sides.

New research from the DPS (Deposit Protection Service) mentioned that landlords are increasing rental prices. According to Greycoat real estate specialists, the primary reason is rising expenses. They want to cover their expenses by raising rental prices.    What that does is raise monthly costs for the residents living there. Managing Director Matt Trevett believes…