Demand for rental properties 'remains robust'
News Category: Industry News
Published: 25-Sep-2007
This article was brought to you by Rentman the premium rent management software.
Demand for rental properties is so strong in the UK that landlords have reported a 40 per cent month-on-month increase in the total value of lettings renewals in September.
A new report from Hamptons International showed that many landlords were requesting 20 per cent more in renewals and that tenants were signing contracts for at least two years in many cases.
Kate Whotton, the regional lettings director for the firm, explained that recent wobbles on the housing market had "exacerbated" what was traditionally a busy month for private rentals.
"The lettings market becomes more robust if the sales market suffers and this is certainly the case at the moment," she explained.
Recently, Sourcing Property revealed that the struggling housing market was encouraging more people to sell-to-let. Many homeowners have decided to rent after selling their property while they wait to see what the market will do in the coming months.
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