Rents will rise as tenant demand increases
by Morag Lyall
Landlords will increase the rent in their tenancy agreements
as the demand for properties rises, one property expert has claimed.
Figures from Countrywide show that the number of tenants registering for accommodation has reached a record high, with 50,480 new tenants in the second quarter of the year.
This is a 16 per cent increase on the start of the year and in June there was a 22 per cent rise on May's figure.
Commenting, Mark Garner, managing director at LettingZone, said that as demand increases and the supply does not, more landlords will be inclined to make rent increases
Research by FindaProperty.com revealed that the average rent increased by 2.3 per cent in the second quarter of 2010, while stock levels have fallen by 2.7 per cent in the same period.
However, he added: "As long as the tenant is paying the rent and looking after the property, most landlords would be happy to keep that tenant there rather than risk losing them by putting rents up."
- Landlord and Tenancy News from Lawpack: Solicitor-approved Rent Increase Notice (Section 13) with expert guidance on how to complete the legal form
Published on: July 21, 2010
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