'Demand causing landlords to up rental rates'

News Category: Marketing

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Landlords and letting agents could soon contradict the doom and gloom of the economic downturn by benefiting from higher rental yields, it has been suggested.

The latest survey of British landlords by property market research agency BDRC found that 38 per cent have increased the rent they charge on their properties during the last 12 months.

Some 17 per cent of the 500 landlords involved in the study said they plan to increase their rent in the next financial quarter.

Mark Long, client services director at BDRC, said: "There are certainly signs in our latest quarter's research that the financial situation is improving for private landlords, many of whom have either increased rents, or are planning to do so."

The survey also revealed that 98 per cent of landlords who rent out at least 20 properties are making a profit, compared to 63 per cent of those who rent out just one.

John Heron, director of Paragon Mortgages, recently said that professional landlords are well positioned to capitalise on increased levels of demand in the private rented sector.

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