Sitting tenants becoming the choice of landlords
According to a new report by Countrywide Residential Lettings, the number of properties bought with a sitting tenant has reached its highest level since 2005, accounting for 11% of all property purchases by landlords. This trend was evident in every region of the UK, with over a quarter of purchases by landlords in London coming with a sitting tenant. The higher percentage in this area is most likely due to the fact that yields are lowest in London and the South East and landlords want to ensure that they receive rental income immediately thereby improving their return.
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