Seasonal rents move down

The seasonal fall in average rents is well under way with average rent falling towards the £600 pcm mark after peaking at just over £615 in October according to the Rentindex.

Landlords should not worry though. This reflects the seasonal slump in rent levels that continues from late October through to March before rents pick up again in April.

Studying the long-term graph shows that rents are still on an upward trend.

The moral of the story is if you are going to relet or propose a rent increase do it from July to October. If you do it then; on average that works out at an additional £20 pcm or over 3% more per month on the average monthly rent. From peak to trough the seasonal variation is more like £35. Not to be sniffed at with a seasonal differential from peak to trough of almost 6% pcm.

Reference my tenants - for less