DEMAND FROM TENANTS CONTINUES TO RISE AS RENTAL STOCKS FALL
Demand from tenants is steadily increasing, the number of properties managed per letting agent branch decreased from 204 in July to 196 in August. On a year-by-year basis, this is slightly less than August 2020 when the figure stood at an average of 208.
In the form of tenants experiencing rent increases, with members recording a significant jump for the second month in a row as 79 per cent of agents say landlords increased rents, compared to 71 per cent in July. This is the highest rate increase on record.
With the increasing pressure, more landlords need to be incentivised into the sector.