27 Sep

Costs being passed onto tenants

Costs being passed onto tenants

Landlords are passing costs on to tenants, according to the Association of Residential Letting Agents (ARLA).

With supply falling and demand rising, it seems landlords are increasing rental prices for tenants. During August, the number of letting agents reporting landlords increasing rents rose to 35 per cent - the highest level since July 2015.

The ARLA figures also show the number of properties managed per member branch fell in August to 189 from 192 in the previous month.

However, demand from potential tenants increased from 70 in August to 72 in July.

“This month’s findings paint another bleak picture for tenants. In November last year, only 16 per cent of agents saw landlords increasing rent costs, but that figure now stands at 35 per cent which is likely to continue rising,’ said David Cox, ARLA chief executive.

“Landlords have had a rough ride at the hands of policy changes at government level, and it’s becoming clear that these additional costs are now being passed onto tenants,” he added.ADNFCR-1222-ID-801840354-ADNFCR

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