From The BBC:
The cost of renting a home is rising as “reluctant landlords” sell-up in the recovering housing market, various surveys have suggested.Rents in England and Wales rose by 0.5% in July compared with June – the fastest rate in a year, according to letting agent LSL Property Services. The number of homes available for tenants fell during the same month, according to website Findaproperty.com. Reluctant landlords are homeowners who are forced to let rather than sell. Over the past 18 months the choice for tenants had expanded as homeowners who had to move, or who did not want to sell at a loss, rented their home out rather than selling it. “Many sellers were left with little option other than to rent their properties out earlier in the year but this trend seems to be slowly diminishing,” said Ian Potter, operations manager of the Association of Residential Lettings Agents. ‘Landlords lucky’Landlords currently find themselves in a relatively strong position, according to LSL Property Service…
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