Tenants face more rent increases
FOUR out of 10 landlords plan to increase the rents they charge during the next 12 months on the back of strong levels of tenant demand, according to research from buy-to-let mortgage specialist The Paragon Group.
Rents in the private rented sector have risen steadily throughout 2010,
Nigel Terrington, Paragon Group chief executive, says: “Landlords are in a strong position. Tenant demand has risen faster than supply during 2010 and that is expected to continue well into 2011. This is reflected in landlords’ expectations of future levels of tenant demand and also the rent they are planning to charge for their properties. Many potential buyers are opting to rent instead.”