Letting agents to see supply increase

News Category: Industry News

This article was brought to you by Rentman the rent property management system.

Letting agents could be set to see the supply of rental properties increase over the rest of the year.

Rics spokesman James Scott-Lee explained that the organisation's most recent lettings survey indicates that the market could be about to turn.

A demand for rental accommodation from letting agents was still evident, with more than a quarter of the chartered surveyors polled stating that demand has increased.

It was also found that letting agents and landlords are bringing in more money from rents when compared to the first quarter of the year.

Mr Scott-Lee suggested that the state of the housing market currently means more people could be persuaded to let out homes rather than sell them.

Commenting on the Rics survey results, David Salusbury, chairman of the National Landlords Association, said: "The growing need for private-rented accommodation demonstrates the importance of the role played by residential landlords."

John Heron, Paragon Mortgages' managing director, added: "The buy-to-let market is still…failing to serve the needs of professionals."

Find out more about letting agent software