Landlords have had it fairly good in the last few years but a significant number still want more.
A landlord sentiment survey by LSL Property Services found that four in ten landlords anticipate raising rents in the next year.
In total a third of landlords expect to increase rents above 1% in the next year - with an average estimate of 3.7%.
Average rents are rising currently at an annual rate of 1.5%, according to LSL’s latest Buy-to-Let Index.
But the rises have nothing to do with greed - more than half (56%) of landlords seeking to raise rents are doing so to cover the cost of inflation.
David Newnes, director of LSL Property Services, said: “Even with an increase in rental properties available, demand in the private rental sector continues to outstrip supply in many areas, especially in London.
"In the months ahead, this will enable landlords to push up their rental prices when letting their properties, putting a stop to inflation from eating into their rental income. This is underlined by the fact that covering the cost of inflation is the main reason cited by landlords expecting to increase rents."
Comments