Landlords 'set to receive increased rents'

News Category: Industry News

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Landlords and letting agents could receive increased amounts of rents over the coming months, Rics has stated.

Jeremy Leaf, spokesman for the organisation, stated that sellers are moving back into the housing market, which means that there are now fewer properties available for tenants to rent from private landlords.

He said: "This is good news for landlords as rents are set to move higher in the coming months and yield returns are likely to improve."

Mr Leaf was commenting on the latest Rics residential lettings survey, which found that 30 per cent of respondents are reporting rents to be rising.

This is in sharp contract to the results of the survey from April, when 58 per cent of chartered surveyors said rents were falling.

The Rics survey coincides with the release of research from Paragon Mortgages, which found that landlords are expecting a rise in the value of their portfolios during 2010 of more than one per cent.

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