The number of properties available to rent in Fife has dropped from 796 to 228 since February 2020.
The average rent a tenant has had to pay in Fife has risen from £591 to £830 since February 2020.
Many Fife landlords have cashed in on the post-lockdown property boom of the last two years and sold their properties to owner-occupiers – not fellow landlords.
The supply of Fife rental property isn’t near what is needed, which is of benefit to Fife landlords rather than Fife renters.
As gas and electric bills rocket for Fife tenants, Fife landlords who do not start to make energy efficiency upgrades face lengthy void periods and will have to discount their rents. This is irrespective of the Government’s plans to change the rules on renting properties with low Energy Performance Certificate (EPC) ratings.
The UK is currently experiencing its highest inflation rate since the early 1990s. This increase in prices has primally come about by the combination of an increase in demand for goods and services from consumers following lockdown last year together with global supply chain disruptions.
Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:
Article, Podcast and TV Show written and produced this week is:
FPTV (EP 76) The Future of the Fife Buy-To-Let Market in 2022
“Fife Landlord? What is the future of the Fife Buy-To-Let Market in 2022? What will happen to rents in Fife And Fife house prices? What about the new landlord and tenant law changes?
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With Fife Tenants Deposits Totalling £16,159,493, How Could ‘Lifetime Deposits’ Change the Fife Rental Market?
Westminster’s scheduled publication of their White Paper for the Renter’s Reform Bill, which incorporates proposals to forbid Section 21 evictions and introduce ‘Lifetime Deposits’ in England, has been suspended until 2022.
The additional time is required to give a chance to create a level playing field to reforms for both landlords and tenants in the private rented sector in England.
In this article, I want to look at these lifetime deposits.