Number of tenancy agreements on the rise

The last six months has seen an increase in the number of people entering into tenancy agreements, an expert has said.

Chief executive officer of Upad James Davis explained that tenant enquires on the website have risen 28 per cent, meaning more tenants are on the lookout for properties to rent.

He continued: "This idea of homeownership is diminishing; there is a major shift towards rental.

"That is an opportunity for landlords to put rents up because the housing stock is not keeping pace with demand."

Mr Davis highlighted that London in particular has seen a rise in prices of between seven and eight per cent, while those outside the city have also experienced increases.

Paragon research recently showed that 32 per cent of landlords raised rents across their portfolios during the first quarter of this year.

One in ten said they had increased income by up to two per cent during the three-month period.

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Published on: March 22, 2011

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