Many landlords in the UK do not know the true cost of buying-to-let.
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The Telegraph recently reported on a new scam operated by a “fake” landlord who conned thousands of pounds from students and other would be tenants for deposits on properties he did not own.
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The ASA recently upheld two complaints about a property letting website that published “070” telephone numbers for applicants to use to enquire about properties available to rent. These telephone numbers allow callers to be diverted to mobile phones or landlines and are more expensive for the caller than conventional landline numbers. Anyone ringing up the agent to find out about a property would find himself or herself incurring substantially higher charges that they may have expected.
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A higher number of tenants are now struggling to pay their rent on a monthly basis.
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The property website Rightmove recently announced that sellers in London are now asking prices of £500,000 on average. In May prices have risen by £15,418 which means that the average asking price of a newly marketed property in London is now a staggering £509,870. The previous high was in March this year but since then the figure has risen by 2.7%.
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