More than half of landlords in the UK believe 2014 will be a good year in which they experience a rise in tenant demand.
A new study by LSL Property Services found that 58 per cent of landlords are expecting more people to show an interest in renting a home this year, while almost one in five said that they anticipate a growth in their portfolio over the course of the next 12 months.
Rental prices are making an investment in a buy-to-let home an incredibly appealing prospect at the moment, with three-quarters of landlords admitting that it's a good time to be buying and selling homes that are rented out.
David Newnes, director of LSL Property Services, said the the underlying factor in this positive trend in the rental market is the boom in house prices that is occurring throughout the UK at the moment.
"Landlords are therefore in a prime position to benefit from the strong yields on properties and aspiring buy-to-let investors can be encouraged by the climbing tenant demand, as not only does it signify the excellent long-term investment opportunity, but also demonstrates the continued appetite for rental homes," he explained.
A hike in tenant demand isn't something that is purely an ambition for the future though, as the study also found that 41 per cent of the 2,195 landlords questioned reported a rise in the last six months, while only one in 16 experienced a decline.
Mr Newnes went on to state that demand for rental homes is currently very strong and this is illustrated by the fact the number of new lettings and viewings is on the up right now.
He went on to suggest that there are currently very strong foundations in place for a period of prosperity and growth in the rental sector and landlords are sure to benefit from this.
The improving economic outlook and future job creation are also cited as key factors behind the positive trend.
Published on: January 7, 2014