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Tenants are expecting rent increases if the results of the latest survey are to be believed.Rightmoves latest Consumer Confidence Survey revealed that nearly half (45%) of those currently renting and plan to rent in the next 12 months expect rents to be higher next year. Only 7% expect rents to be lower. Just under half (42% ) expected rents to be the same.
Commenting on the results Miles Shipside, commercial director of Rightmove:
“Many renters are caught in a 'rental market crossfire', taking financial hits from all directions. Not only can they not afford to buy, but they are about to feel the pinch as rents look set to rise too. As well as being negatively impacted by the new Government's austerity measures, they are likely to have to compete harder and pay more for the dwindling choice of rented accommodation. "
"Perversely, this survey shows that it is renters themselves who are calling 2010 the 'Year of the Landlord', and it looks set to be true of 2011 as well.”
Let hope so hey....
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1 comment:
Strange but true. In my 8 years as a Landlord this is only the second time ever, in May 2010, that I have actually increased the rent and the Tenant has mutually agreed. The only other time was a corporate let.
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