Rents rise for more tenants: Arla Propertymark

The number of tenants experiencing increases in their rent has risen for the first time since September, according to Arla Propertymark.

Last month saw 26 per cent of tenants reporting an increase in rents prices, up from 18 per cent in December, it says.

Year-on-year, this figure is up 7 per cent.

Furthermore, the supply of rental stock is on the rise, with the number of properties available having increased from 193 in December to 197 in January.

Demand from prospective tenants has also increased, with the number of house-hunters registered per branch rising to 73 in January, up from 50 in December.

Arla Propertymark David Cox comments: “This month’s results are another huge blow for tenants. With demand increasing by 46 per cent from December, and rents starting to rise in response to all of the cost increases landlords have experienced over the last few years, tenants are in for a rough ride.

“Last month, there were three landlords selling their buy-to-let properties per branch, and as landlords continue to exit the market, rent prices will only continue to rise.

“With the tenant fees act passing its final hurdle in the house of commons and receiving royal assent this month, tenants will continue bearing the brunt, as agents and landlords start preparing for a post-tenant fees world.”

Recommended

Number of renters seeing prices increase drops again: Arla Propertymark

Arla Propertymark have issued its November PRS report, and it shows the number of tenants seeing their rent increasing falling for the third consecutive month. The survey outlines that tenants reporting upped rents has dropped by 10 per cent from September to November, standing at 21 per cent for last month. However, year-on-year the quantity of […]

In Focus Ebola cover - thumbnail

White paper — In Focus: Ebola Virus Disease

Jelf Employee Benefits focuses on Ebola Virus Disease (EVD) and what this means for businesses with operations in West Africa. This will be of particular interest to those with employees either travelling to, or living within, West Africa, the area affected by the most catastrophic outbreak of Ebola to date.

Newsletter

News and expert analysis straight to your inbox

Sign up