Tenants and those looking to rent in the private sector
face even tougher times ahead as a shortage of properties to let collides with
rising demand to fuel fierce competition, suggests the Association of Residential
Lettings Agents (ARLA). ARLA’s third
quarterly report found that over a third (68%) of respondents reported more
would-be tenants than properties available. This figure represents the third
and biggest successive increase, from 46% in Q3 2013, 54% in Q1 2014, 59% in Q2
2014; meaning an increase of nine percentage points between Q2 and Q3, and the
largest increase since numbers were on the up. This is reinforced by the fact
that supply of residential property on the private rental market decreased in
the last quarter, with ARLA Licensed members recording a 6% drop in the average
number of managed buy-to-let (BTL) investment properties on their books. Read
more on the ARLA website.
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