Rental Demand At Record Levels For Landlords

The Association of Residential Letting Agents (ARLA) has conducted research that concludes that the number of prospective tenants seeking rental properties is at an 8-year high.

UK letting agents have also reported a significant shortage of available UK property to rent as tenant demand outweighs supply, as shown in the chart below:

Rental property supply and demand, 2010 to date. Source - Lettingweb.com

Ian Potter, Operations Director of ARLA, said: “The market has bounced back in a way that no one could have predicted to levels of demand that have not been seen since the last century.”

“More than 70 percent of our agents have stated that consumers coming to their offices are being forced to rent because of the pressure exerted on potential home buyers. This is real evidence of a generation forced into renting and the Government must recognise the need for regulatory protection for them.”

“As a minimum this must include consumer redress through an Ombudsman and Client Money Protection similar to an ABTA Bond. Our members offer these benefits to the consumer be it a landlord or tenant.”

The levels of demand are the highest they have seen since the ARLA survey began nearly a decade ago. Furthermore, the demand is more than double that experienced at the peak of the property boom in 2007.

The south east of England has seen the highest demand where 81 percent of agents have stated that there are more tenants than available properties compared to 67 percent in the rest of the UK and 73 percent in Central London.

Potter concluded: “It has to be hoped that this unprecedented growth in the rental market will attract much needed investment into the private rental sector as it copes with the huge surge in demand from a generation who cannot afford to buy”.

“But we must ensure that ‘Generation Rent’ receives as much help as possible from the Government to ensure the proper regulation of the sector.”

<--- return to news section

Profit Now From The UK Lettings Boom!

Don't delay, call us now on 01722 414 300 or for further info please register here

Alternatively, get started today with our unique business start-up packages - available from only £279.95 (inc. VAT), a fraction of what you will make from your first let property alone!

To order and get started today please click here

Need a professional website for your new letting agency? For further info please click here

Referral Scheme Pack

Discover how to set up and operate a successful landlords referral scheme in your own agency.

To find out more about this great additional letting agency training product please click here

4 Everything Property.com

4EverythingProperty.com is the UK portal for property agency and property industry service providers.

To find out more or list your company today please click here