Tenants staying longer, letting agent says

News Category: Management

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A letting agent has noted the growing trend for tenants to stay in their properties for longer.

Robert Jordan, chairman of letting agent Jordan's, stated that the traditional churning of the rental market has dried up as a result.

"There is a real shortage of good quality property coming on to the market," he commented.

Mr Jordan added that the amount of legislation that restricts landlords has put some people off entering the property market.

"They need incentives which will help the one million homeless in this country find a decent home to live in," he said.

Mr Jordan was speaking after research by Arla found that the amount of property available on the rental market is failing to meet consumer demand.

According to the body's study, two-thirds of letting agents report that demand for properties is outstripping supply.

This follows research conducted by online letting agent Upad.co.uk, which found that 61 per cent of landlords believe the rental sector is showing signs of improvement.

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