New stamp duty surcharge will increase rent costs for tenants – claim
The Association of Residential Letting Agents has claimed that the new stamp duty surcharge on buy to let properties, coming into effect next Friday, will increase rent costs for tenants and trigger a decline in the supply of available properties. Despite an uplift in interest from buyers looking to invest in BTL properties before the stamp duty reforms come into effect, ARLA predicts that after the deadline supply will fall as landlords are pushed out of the market. “This will most certainly cause rents to increase, with supply dropping, as competition for the limited availability of properties intensifies” says David Cox, managing director of ARLA.
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