by Daniel Jones
Landlords will be well placed to increase yields across their rent books over the next 12 months, with more than half of British tenants anticipating a rent rise.
Just four per cent of tenants expect rents to fall, while an overwhelming 53 per cent expect a rent increase when they sign their next tenancy agreement, according to research by Rightmove.
Rightmove director Miles Shipside noted that part of the reason for the anticipated rental increase is due to heavy demand.
He explained: "Those traditional tenants that are leaving the family nest are increasingly being joined by those that can't sell or get a mortgage to trade up, putting unprecedented pressure on the rental sector to provide homes to rent on most rungs of the property ladder."
This in turn is creating supply shortages across rent books.
For landlords who want to increase their rent and want to get expert advice on how to legally raise the rent, Lawpack's Rent Increase Kit can help. The Kit includes all the legal forms you need plus expert advice from a solicitor specialising in residential letting on how to go about raising the rent.
Last week, the Association of Residential Letting Agents indicated that demand for rental property will continue to outstrip supply for much of 2011.
Published on: March 7, 2011