Hello and welcome to this week’s video blog.
I hope you have been enjoying my recent videos, where I have been speaking about the Northampton property market and whats going to happen in 2016, buy to let yields in Northampton and much more, and this week I’m going to be talking to you about tenant rents.
The demand for rented property in Northampton is huge at the moment and rents are on the rise.
Tenants are now spending just under a third of their salaries in rental payments, with the average rent on a property in Northampton now at £760.00 per calendar month.
That is 6.6% higher than it was 12 months ago!
Which all sounds very positive if you are a Northampton Landlord!
Unfortunately though, as tenants feel the financial pressures of these rent rises, rent arrears are becoming the fastest growing debt problem, and last month just under 10% of all rent due was in arrears!
So it’s not so positive for the landlords of these properties.
Here at Northwood we offer a unique guaranteed rent package, where you could get paid a guaranteed income even if the tenant isn’t paying their rent
So if you don’t want to get caught out by your tenant not paying the rent or the other risks associated with being landlord, then pick up the phone and give us a call. I’m Katherine Bond the local director of Northwood Northampton and you can call me on 01604 607080.
And remember to subscribe to my you tube channel if you want to see more of my videos!
I look forward to hearing from you.