The current tightness of the housing market was again underscored recently with the release of the latest figures from the Association of Residential Lettings Agents (ARLA). Their figures showed that a massive 74% of their members had reported that there were more tenants seeking properties to let than there were properties available, and furthermore, that this figure rose to 82% in London.

Compared to only two years ago this is an increase of 8% for London, and an increase of 10% for the UK as a whole, showing the private rental market is bigger than ever, and highlighting how more people are coming to rely on the rental market: all reassuring news for landlords and letting agents.

Commenting on the freshly released data the operations manager at ARLA, Ian Potter, said that “To work towards a solution, Government needs to look seriously at ways of incentivising investment into the PRS to increase the number of properties available for rent. At the same time, it needs to look at ways of regulating what is becoming an increasingly popular housing option, so that consumers and landlords are protected from issues such as loss of rent monies and deposits as well as defaults on mortgage and rental payments.”

At present, tenants are tending to “play safe”, stick with their existing arrangements, and renewing tenancies, offering opportunities for landlords to raise rents, and increase the yield on their investments.

All in all a perfect time to rent your property! Call us now for a valuation 01202 553335