Renting a room for landlords and for tenants is becoming much more popular – especially in more expensive areas like London.
Renting a room is benefical for tenants as it can cost considerably less than renting a property. It’s positive for landlords too as, in more costly areas, getting the rent to cover costs can be a struggle at times. Renting rooms can, in fact, deliver a far greater yield, although keep in mind maintenance costs tend to be much higher as you have more people using utilitiy facilities.
DOWNLOAD THE SPAREROOM RENTAL INDEX
According to SpareRoom’s rental index for August:-
In August the average UK rent was £563, up from £546 last month.
| Big risers: | August 2014 | Annual Change |
| Belfast | £370 per month | +23.7% |
| Hartlepool | £372 | +16.1% |
| Oldbury | £408 | +13.8% |
| Widnes | £347 | +21.2% |
| Big Falls: | ||
| Scunthorpe | £308 | -20.9% |
| Great Yarmouth | £310 | -19.8% |
| Top room rents: | ||
| London - West Central | £905 | +2.4% |
| London - East Central | £900 | +4.1% |
| Twickenham | £609 | +4.4% |
| Best value room rents: | ||
| Batley | £251 | -9.4% |
| Bootle | £312 | +4.3% |
| Londonderry | £285 | -12.8% |
SpareRoom.co.uk comment that:-
'The Rental Index shows a particularly strong rental demand in Basingstoke, Dunstable, Inverness and Leicester. Areas with a healthy demand also include Hereford, Middlesbrough and Preston.'
DOWNLOAD THE SPAREROOM RENTAL INDEX
Tenants
Landlords
