Latest News

Lettings boss hit with ban after failing to protect deposits

16 January 2020

A lettings management director from Exeter has been disqualified for six years after failing to safeguard more than £68,000 worth of tenants’ deposits. Read More...

First of its kind case sees tenant awarded £18,000

15 January 2020

A tenant in Glasgow is the first case of its kind to be awarded £18,000 in damages by the First-tier Tribunal from Scotland Housing and Property Chamber. Read More...

900,000 UK residents to see an increase in Housing Benefit

15 January 2020

The UK Government has announced that the freeze on Local Housing Allowance rates has been lifted and could see Housing Benefit payments rise from April. Read More...

 

 

 

 

 

 

 

 

No relief for tenants as rent costs remain high

Monday 28 October 2019

ARLA Propertymark’s Private Rented Sector (PRS) report shows the number of tenants experiencing rent rises fell marginally in September, with 58 per cent of agents witnessing landlords increasing them.

Year-on-year, the figure for rent rises is up from 27 per cent in September 2017 and 31 per cent in September 2018, as they remain high. Tenants in the North East of England were the worst affected with 86 per cent of agents witnessing an increase in rent prices.

Letting agents managed 193 properties per member branch on average in September, down from 197 in August. The number of properties under management is the highest in the West Midlands, where agents managed 271 properties on average per branch, and is lowest in the South East where agents typically had 152 properties on their books.

David Cox, ARLA Propertymark Chief Executive, said: “While the number of tenants experiencing an increase in rent has dropped marginally, rent prices remain alarmingly high as they have done since the Tenant Fees Act came into effect. It’s also concerning to see that the number of properties managed per letting agent branch has fallen. As supply falls, competition amongst tenants increases which further drives up rent costs.

With the possibility of a general election approaching, we hope that the Government recognises the importance of increasing supply for tenants and uses it as an opportunity to make the market more attractive for landlords.”

Other statistics show:

Number of prospective tenants

  • Demand for rental properties dropped marginally in September, with letting agents registering interest from 72 new prospective tenants, as opposed to 76 in August.
  • The number of tenants registered per branch is the highest in London, where agents had 103 new prospective tenants on their books.
  • Demand from tenants is at its lowest in the North East of England with 40 tenants on average per branch.

Rent reductions

  • The number of tenants successfully negotiating rent reductions fell marginally to 1.2 per cent, from 1.3 per cent in August.

Length of tenancy

  • Tenants stayed in their properties for 19 months on average, down from 20 months in August.

The full report