x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
    
newsletter-button

TODAY'S OTHER NEWS

Fees ban: Rent rises reach record high for fourth consecutive month

The number of tenants experiencing rent rises following the introduction of the Tenant Fees Act continued its upward curve in August.

The latest figures from ARLA Propertymark show 64% of agents witnessing landlords increasing rents, up from 63% in July.

This figure is significantly higher than the 40% of agents who reported rent rises in August last year and the 35% recorded in August 2017.

ARLA Propertymark says the number of renters experiencing higher rents has now reached a record high for the last four consecutive months.

To reach these figures, the trade body, which started keeping these records in January 2015, surveyed 279 of its members during September.

The study also found that rental property supply increased from 184 properties managed per letting agency branch in July to 197 in August.

On an annual basis, the level of supply has remained the same, however it is 4% higher than the figure recorded in August 2017.

Alongside rising supply, tenant demand also increased in August, up to an average of 76 prospective renters per branch from 73 the previous month.

Meanwhile, the number of landlords leaving the market remained steady at four per branch in August.

"Although it’s positive to see that supply has risen, it is nowhere near enough to counterbalance the rapid pace of rising rents," says David Cox, ARLA Propertymark chief executive.

"The impact of the Tenant Fees Act will continue to be felt by tenants, as in order to keep their heads above water landlords will need to continue increasing rents to cover the additional costs they now have to bear."

*Graham Norwood is on annual leave, returning on October 14 2019. Conor Shilling will be undertaking editorial duties in his absence. Please direct all stories and enquiries to press@lettingagenttoday.co.uk

  • icon

    Well we all didn’t see this coming did we

  • Paul Singleton

    Any comment from Polly Neate?

     G romit

    Polly Neate/Shelter never comment. As far as they are concerned its "job done" and have moved on to the next campaign to further attack Landlords and make life for Tenants worse.

     
  • Angus Shield

    Well there's a BIG surprise NOT messes Polly Neate, Shelter and the rest of the consulted 'experts'!

    All you have done is punished the tenants in the long term and landlords in the short term.
    We are beginning to see a higher degree of failed applications (affordability despite tenants believing they can afford the rent due to zero hours contracts, etc) which places the referencing costs on the landlord with no reward.

    Why fetter; the PRS was almost self-levelling apart from the few sharp operators who generally fell foul of their own cleverness when Trading Standards became aware.

  • S l
    • S l
    • 02 October 2019 09:06 AM

    sorry to hijack this page but needed advice. I had signed on a tenant who wanted to move to another property in town. The agreement is to move within the month hence no tds as having the deposit as holding deposit for the town centre property. However, that fell through and he is stuck where he is. so i signed a new contract and protected the deposit. q- tt claimed hold deposit over a month prior to protection. any advice?

    icon

    Holding Deposits are 1 weeks worth of rent. You shouldn't take a deposit until Tenant comitts and signs the tenancy agreement, thereby being able to hold them to the contract, as you have 30 days to protect deposit or return it ( after it is received. )

     
    S l
    • S l
    • 02 October 2019 12:53 PM

    Hi this is prior to the fees ban last june. 2018 and its going to move forward as deposit for new contract. Does that make any difference.

     
  • icon

    Oh but for the campaigning of Tenant support groups and Government interference, -

    Tenants would be better off without their ' help ' !

icon

Please login to comment

Zero Deposit Zero Deposit Zero Deposit
sign up