The large majority of landlords are planning to freeze rents next year.
Just one in four intends to put rents up, and of those, only around one-third plans to hike the rent by more than 5%.
According to a new survey by Rightmove, landlords have become increasingly mindful of tenants’ ability to meet rising rent demands, with over one-fifth of current tenants (22%) spending 50% or more of their take-home pay on rent.
According to Rightmove, 25% of landlords intend to increase the monthly rent, 1% intend to reduce it, 14% are undecided and 61% intend to leave rents as they are.
Overall, rents next year would rise around 2% – compared with the annual average rise of 4.5% since 2009.
The enormous survey – canvassing the opinions of 8,594 landlords and tenants – also found that average rents across Britain have risen by 136% in the last three years.
Most (59%) tenants said they would like to buy but cannot afford to do so. This was the highest proportion since Rightmove began its quarterly rental surveys over two years ago.
A further 30% said they would like to buy at some point in the future, and just 11% said they preferred renting.
.jpg)
.jpg)
Comments
I think that now is the time for landlords to do the right thing and freeze rents for next year. With general recent rising rents and lower property prices yields have become very good. I have really good tenants and we enjoy an excellent relationship. I react quickly to any needs. I make sure that they are happy, comfortable and safe. In return they pay on time every time. Why stress them in these dificult times when my maargin is so good anyway. One months void would wipe out any increase in rent for at least a year. If the rent is too high, the risk of a void is increased. Let's show willing and help them through these turbulent times. I have already told my tenants that there is no planned rent increase for the forseeable future. This knowledge gives them some comfort.