22
Nov
Tenants expect buy to let rents to rise next year
A number of people living in buy
to let properties expect the cost of renting the accommodation
to increase next year, according to a report.
Rightmove.co.uk has revealed that 42 per cent of tenants believe
that 2011 will bring a surge in the cost of renting a
property.
Director of the firm Miles Shipside said: "For the second
consecutive quarter more than 40 per cent of renters are revealing
their fears of another upwards movement in rents."
Of these people, 11 per cent expect rent increases of ten per cent
or higher.
Mr Shipside added that there has been a rise in demand of tenants,
with many being turned away from rental estate agents.
This, it was suggested, could be the reason behind the hike in
rental fees, as the supply of properties continues to be below the
rising demand.
Upad's findings released earlier this month support these results,
as they show that 54 per cent of landlords are more confident in
the rental sector this month compared with October 2010, most
likely because of their growing rental income.