Around four in ten landlords anticipate raising rents in the next 12 months according to an industry survey. The average estimate was a rise of 3.7%. Currently rents are rising at a rate of around 1.5% per annum, according to the same source.
Where many individuals may think the raises are due to greed, the actual reasons lie with inflation with 56% stating this as the primary reason.
William Taylor of Martin & Co Huddersfield (Huddersfield Estate Agents, Huddersfield Letting Agents & Huddersfield Property Management) said “we have seen slight increases in our local market, but these are very restricted to certain areas and certain popular developments. Across the board I would say that levels have stayed relatively solid for the last few years. Our advice to landlords is to look for reasonable increases in reasonable timescales. What we do want to avoid is causing any unrest with our tenant clients.”