Landlords Look to Expand Portfolios As Rent Demand Soars

Nearly a third of landlords are looking to increase the number of properties they have in the next 12 months as demand for rented accommodation soars and 43% think they will maintain their portfolios at their current size, according to LSL Property services, the UK's largest letting agent network. Landlords' confidence is being driven by growing demand for rental property, with 50% of landlords seeing an increase in the number of people who want to let a home during the three months to the end of October, while 69% expect demand to continue to grow during the coming year. The increase in demand, combined with a shortage of rental homes, pushed rents up to a record high in September, following eight consecutive months of rises. Landlords are also increasingly confident that their properties will not be empty for long periods in between tenants. Just under half of landlords said they thought it was a good time to invest in property, while only 1% said they thought it was a good time to reduce the number of properties they have. Read more on 24dash.