22 Nov

Tenants expect buy to let rents to rise next year

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.ADNFCR-1222-ID-800249479-ADNFCR

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