5/1: Odds increase in landlords favour
The demand and supply scales in the rental property market have tipped further in landlord’s favour, according to latest figures from Countrywide Residential Lettings.
There are now five tenants for every rental property, up from 4.2 per cent in August 2013. As a result last month landlords achieved an average of 99.6 per cent of the asking rent.
Despite the good news for landlords, Rob Denman is concerned these latest figures will spark another round of criticism:
“I’m sure that some will twist these numbers to create a headline that reflects negatively on landlords and call for further crackdowns, all the time missing the real issue - supply.
“While I am in support of regulations to ensure landlords are letting a good standard of property, I am fearful that any more laws will prevent new landlords joining the market and even prompt existing ones to exit and I can guarantee it won’t be the rogue landlords who give up the game.
“This will only create a further imbalance in an already disjointed market.”
Content correct at time of publication