Tenants Hit Hard As Rents Reach Record High

Tenants are being hit by record-high rents and the added cost of the Government's stamp duty rise on buy-to-let properties, a report has found. Rents rose at their fastest rate for six months in April, hitting an average of £793 across England and Wales, according to the latest Buy-to-Let index. The study from Your Move and Reeds Rains means tenants have seen an increase of 0.3% month-on-month, while rents are also 2.4% higher compared to the same point last year. The average tenant is now paying an extra £19 a month, with rents reaching all-time highs in the East of England, the West Midlands and the East Midlands, the research revealed. Download the Index from the Your Move website.