|Posted on 8 October, 2019 at 8:25|
David Cox, ARLA Property Chief Executive, said: Although it's positive to see that supply has risen, it is nowhere near enough to counterbalance the rapid pace of rising rents, which have reached a new record high for the fourth month running. Two thirds of agents reported landlords raising rents last month, which is a significant increase when compared to the two fifths of agents who witnessed rises in August last year."
Unfortunately, the impact of the Tenant Fees Act will continue to be felt by tenants, as in order to keep their heads above water, landlords will continue increasing rents to cover additional costs they now have to bear".
ARLA Propertymark last week issued it's August Private Rented Sector Report.
* The number of tenants experiencing rent rises rose marginally in August with 64 per cent of agents witnessing landlords increasing them, compared to 63 per cent in July.
Year on year, this figure is up from 35 per cent in August 2017, and 40 per cent in August 2018.