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Number of tenants negotiating rent reductions reaches all time low

Tuesday 28 January 2020

ARLA Propertymark’s Private Rented Sector (PRS) December report shows the number of tenants negotiating rent reductions fell to 1.1 per cent from 1.6 per cent in November. This is the lowest figure since records began.

However, on a positive note, the number of agents witnessing rent increases remained at 32 per cent which year-on-year, is still up from 16 per cent in December 2017 and 18 per cent in December 2018.

Demand on tenants

Demand from prospective tenants has now fallen for the third consecutive month with 56 prospective tenants registered per member branch. This is down from 67 in reported in November.

Supply of rental stock

The number of properties managed per branch rose from 203 in November to 206 in December. However, year-on-year the supply of rental stock has risen from 200 in December 2017 and 193 in December 2018.

Quote mark

Since the tenant fees ban came into effect, our data shows that rents reached an all-time high last year. While we have seen a slight drop in the number of agents witnessing landlords increasing rents since then, overall rents remain high and now it seems that tenants are finding it harder than ever to negotiate a reduction in rent.

As rents continue to rise, tenants will find it even more difficult to find suitable accommodation. Now that we have a new government in place, it’s important that long overdue legislative changes are implemented to make the market attractive again for both tenants and landlords.

Phil Keddie

David Cox
ARLA Propertymark Chief Executive

PRS report