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'90% of landlords won't raise rents in next six months' says HomeLet

A survey by HomeLet suggests that nine in 10 landlords do not intend to raise rents on their existing tenancies during the first six months of 2016.

The research reveals that 91 per cent of landlords are going to keep rents static until at least the mid-point of next year;  only 34 per cent say they plan to increase rents at all over the next 12 months.

“Being a landlord is a long term investment and attrition of tenants is not something landlords desire. Our own clients tell us they would rather retain a good tenant over the longer period than seek additional income” says Martin Totty, chief excutive of Barbon Insurance Group, which operates HomeLet. 

Meanwhile the latest HomeLet Rental Index reveals that in 10 out of 12 UK regions, rents on new tenancies remained flat or fell slightly over the three months to November 2015. 

Across the country as a whole (excluding London), the average rent on a tenancy signed during the three months to November was £743 a month, 0.7 per cent down on the previous three-month period. 

In Greater London, the average rent was £1,544, down one per cent.

The index shows that just two regions saw rents on new tenancies rise over the three months to November. In Yorkshire and Humberside, rents on new tenancies were 0.8 per cent higher than in the previous three months, averaging £626 a month; in the East Midlands, rents were 1.2 per cent up at £635 a month.


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