A Third Of Landlords Raising Rents In 2011

Research from buy-to-let mortgage specialist Paragon has revealed that 32% of landlords have raised rents across their portfolios during the first quarter of 2011.

One in ten landlords stated that rental income across their portfolio rose by up to 2% during the period, with a further 10% stating that it rose between 2%-4%. However, nearly 5% of those surveyed said that rental income had increased by more than 8%.

Chief Executive of Paragon Group, Nigel Terrington, commented: “Supply and demand dictates rental pricing, and landlords are experiencing significant tenant demand for their properties at present."

Mr Terrington continued: “Obviously landlords do not want to make rented accommodation unaffordable, but a considerable proportion of them have been able to make small increases to their overall rental income during the first quarter. Government figures show that nearly 300,000 extra households moved into privately rented accommodation in England alone last year and that is placing increasing strain on stock in the sector. It is encouraging that buy-to-let lending increased by 22% during 2010, but more needs to be done to ensure that the private rented sector can expand sufficiently to meet tenant demand.”

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