Rental website growth

Rental website records a 938% growth in activity

lettingaproperty.com, an independently owned rental website has reported a growth in activity of 938% since January 2010. The unique number of visitors to the website is now in the region of 22,000 per month generating over 100,000 property page views per month.

Mr Jonathan Daines, Managing Director, attributes this growth to 2 factors - 1) tenant demand in the Private Rented Sector and 2) a need for choice when searching for property.

He comments "We have recognised that demand for rental property in the PRS has increased month on month as more tenants are finding it near on impossible to move out of private rented accommodation and onto the property ladder.

"Despite interest rates being at an all time low, mortgages are still hard to come by and considering that the majority of tenants do not have deposits of up to 20% - 25%, they simply cannot afford to buy.

"We are finding that the majority of our enquiries are from young people either leaving their parents homes to go to University or to relocate to another part of the Country in search of employment.

"Property stock from high street letting agents has decreased rapidly over the last few months and with a lack of new landlords coming to the market, tenants are widening their search online and visiting niche sites like lettingaproperty.com.

lettingaproperty.com advertises property from private landlords and letting agents on their website and to date has just over 100,000 rental properties listed in the UK.

Daines comments "It is because we advertise a mixture of private and agent property we are offering the tenant greater choice when searching online. We send thousands of tenant enquiries to both our private landlord advertisers and letting agent members monthly.

The company has committed to continue their growth in visitor numbers and estimates that by this time next year they will reach 1 million property page views per month.