The North sees massive variations in rent due to a wide variety of property stock. In the likes of Newcastle, properties can be rented for just £300 per month while others in the posh city areas can be over £3,000! As such as don’t hold much stall by averages in this area, especially in the North East, but the North West is a little easier to survey, so more accurate.

North West rents vary from £600 through to £650, and most of the surveys would suggest that rents are fairly static throughout the region.

Landlords – When the market is static, minimise your costs and ensure you keep good tenants. Don’t skimp on maintenance as tenants want to live in a ‘home’ - not just any property. Visit our Choosing a Letting Agent Checklist.

Tenants – When rents are stable, you can take your time searching for the ideal property but make sure the property is let legally and kept up to date. Check your deposit is protected in a one of the government licenced tenancy deposit schemes. Visit our Tenancy Deposit Scheme Checklist.

Letting Agents – When rents are not rising, landlords need more help maximising their returns. To attract new landlords, ensure you provide a service which is more about maximising their investment returns and not just marketing and managing a property.

If you are a landlord/tenant in the North East, rents vary from £510 up to £650 from the Move with Us quarterly index, but can reach as much as £2,000. We find average rents are pretty irrelevant for this area, due to the diverse mix of property types and rental values in the region. So it’s essential, whether you are a landlord or tenant, to find out what’s happening to rents in your area – are they rising, falling or stable and if buying, make sure you read our Steps to Analysing a Buy to Let Property Checklist.

Wales and Scotland Regional Rents Update

If you are a landlord/tenant in Wales, rents vary from around £570 up to £625. With the exception of Belvoir, the rental surveys are saying rents are rising above inflation across Wales.

• Landlords – Rents rising above inflation is a great position to be in. Take advantage of the extra cashflow if you are re-letting your property and make sure all maintenance jobs are done to keep the property dry, warm and as energy efficient as possible in the winter months.
  Visit our How to Replace a Boiler for Landlords Checklist.
• Tenants – Even though rents may be starting to rise, don’t rush into renting a property. Take time to choose a suitable, legally let property you can stay in for the long term if you wish. Find one which is in good condition and the maintenance is up to date. Visit our How to Avoid Rogue Landlords Checklist.
• Letting Agents – Providing a good buy to let investment service will help to attract new landlords and keep the ones you already have.

If you are a landlord/tenant in Scotland, rents vary from £580 to £615, and again Move with Us seem to have a higher than the average figure of £660 per month. Typically, rents are rising in the city where the highest demand is, but are stable to falling on the outskirts and more rural areas.

• Landlords – In a static market, you need to ensure you let a quality property. Tenants are becoming more demanding wanting a home, not just a ‘place to live’, so don’t cut corners on maintenance, particularly during the autumn and winter when tenants desperately need to be warm.
  Visit our Renting by the Room Checklist.
• Tenants – When some rents are rising in some areas and are more stable in others, check out what’s happening in your local area rather than relying on media reports. Always try to get a good deal on rents if you want to rent long term.  Visit our Renting a Property Checklist.
• Letting Agents – As with many areas across the UK, stock can be very difficult to get hold of. To get the best tenants and landlords, ensure you are registered with ARLA or NALS and offer client money protection. Long term landlords will work with agents who give the best service – not the cheapest commission.