UK Rent Rates Need to Be Reviewed – Belvoir

A nationwide view on the private rental sector might help get the rent rates in tune with the local market, says Belvoir Lettings Agency.

Belvoir Lettings Agency, UK-based firm specialising in property rentals, recently said that there is a need for realistic rental valuations as the situation on the market is going out of control.

As such, rent rates in the UK and London in particular have increased significantly in the first 2 quarters of 2011 and are expected to further rise by Christmas.

Dorian Gonsalves, managing director of Belvoir, is determined that getting a nationwide view on property rent rates is very important as it will help avoid landlords' wars.

Mr. Gonsalves said: "Across the country we are seeing a modest rather than dramatic increase in rents, which is improving yields." He also highlighted that landlords are oftentimes looking for reliability rather than for the highest price.

According to statistical data, almost 20% of English property is now in the private rental sector.