Rent rises jumped in private rented sector
Tuesday 12 March 2019
More tenants are seeing rent increases, according to the latest picture of the market compiled by the Association of Residential Letting Agents (ARLA).
It says that the number of tenants experiencing rent rises increased in January, with 26 per cent of agents witnessing landlords increasing them, compared to 18 per cent in December.
Year on year, this figure is up seven percentage points, compared to January 2018.
Meanwhile the supply of properties available to rent rose to 197 in January, from 193 in December.
Demand from prospective tenants also increased in January, with the number of house-hunters registered per branch rising to 73 on average, compared to 50 in December.
David Cox, ARLA Propertymark chief executive, said: “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.
“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.”
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