Manchester Property News

Rents must rise

David Boyd Aug 3, 2011, 16:18 PM

Bar Chart Graph IncreasingThe media is currently littered with stories of rents rising, to the extent one would think they had double over night!  Whilst, I'm sure some areas may have seen dramatic rises in rent such as the South East and London, many more areas are only seeing a minor "correction" in rents which has been long overdue.

Over the years multitudes of legislation (mostly ill-thought) has been thrown at landlords.  This legislation may not have resolved any issues, but it has certainly resulted in extra costs for legitimate landlords.  Take the Tenancy Deposit Scheme (TDS), such schemes have insured that landlords rarely receive the actual costs of the works they carry out in-between tenancies.  For example, if a tenant has marked a wall, the landlord will NOT receive the costs of repainting that wall, only a minor adjustment for the mark itself.  Back in the real world a landlord will have to find a decorator willing to come in to paint one wall (good luck), or usually end up painting the entire room so that the different ages of paint correspond.

The landlord needs to recoup this shortfall somewhere, and that somewhere has to be increase rent for every tenant.  This is just one example of legislation that has increased the total costs for landlords.  Other legislation includes selective licensing, health and safety legislation, energy performance certificates.  All this legislation costs money and therefore rents have to increase to take account.

In conclusion rents have remained static for far too long, whilst the costs of being a landlord have increased.  It was only a matter of time before the increased costs resulted in the necessary increases in rent.  Whilst increased legislation isn't the only reason rents are rising, demand is also increasing due to banks reluctance to lend to first time buyers, it is factor that landlords must consider when setting rents.

Governments need to think carefully before introducing legislation that ultimately benefits neither landlords or tenants and increases the costs to everyone in the form of red-tape.


Load more comments
Thank you for the comment! Your comment must be approved first

Join our Newsletter

About The Blog

This Blog looks at what is happening in Manchester, the property market, events and community news along with investment ideas and tips for those loosing to invest in the area. 

Tom Simper - Editor

TomS - Head

Manchester is one of the fastest growing markets in the country.  If you need any assistance buying, selling or letting properties in the area we have over 30 years of experience and local knowledge to help.

T: 0161 441 0563
E: [email protected]


- Natalie

"Absolutley Perfect Service"

- Jonathan

"Denise was so helpful "

- James

"providing a 1st class service"

- Lynn

""A" Team at Salford"

- Sanjay

"Great service!"

- Gaby


- Cheryl

"Emily and Manish both very helpful"

- Chris