Two thirds of tenants expect rents to rise
With many expecting rents to rise it may be wiser to keep good tenants on an affordable rent to avoid costly void periods and arrears.
A record 63% of current tenants expect rents to be higher in 12 months, up from 53% last quarter, Rightmove says.
Overall 70% of tenants state the current market favours landlords while 55% of tenants identify themselves as ‘trapped renters’ who would like to buy but can’t afford to.
Rightmove said there is evidence of long-term demand as a third of tenants expect to be renting for three years or more and one in five tenants has been in their current property for five years or longer.
The property website said the gulf between rental demand, as measured by search activity, and supply, measured by available properties for rent, is at the widest point ever measured.
Read the full story at MortgageIntroducer.com