The residential lettings market is extremely buoyant at the moment with a large increase in tenant demand and a lack of available properties.
This in turn is not only driving rents up, but is creating a fiercely competitive arena for tenants fighting over rental accommodation, according to the Association of Residential Letting Agents (ARLA).
Carly Scott, lettings manager at Newman Residential Lettings, said: “With tenant demand at an all time high and the incredibly quick turn around of stock at the moment, we are struggling to meet demand.
“We have an abundance of clients on our database still looking for good quality rental accommodation. With the average tenancy length around 20 months, it is also a great time for buy-to-let landlords to invest or add to their portfolio and the good news is, average rents and demand for residential accommodation are set to continue rising.”
The HomeLet Rental Index shows that in the three months leading up to August, the average rental values for new tenancies in the UK were 7.8 per cent higher than the same period last year (5.3 per cent).
Newman Residential Lettings urgently needs more properties. New landlords are being offered free rent guarantee and legal expenses polices on the agent’s fully managed service. Telephone (01788) 820011.