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Thursday, 09 June 2011 11:29

Landlords put rent up as tenant demand grows higher Featured

Written by  Administrator

Many landlords are charging more rent to combat the growing demand for rental property, according to figures from the Royal Institution of Chartered Surveyors (RICS).

In a report published today, the organisation reports a net balance of 42 per cent of surveyors who saw rents rise in the quarter up to and including the month of the report. Houses meanwhile were still subdued, with just two per cent more surveyors seeing them added to portfolios.

Over the same quarter, flats were the most likely type of property to be added to the list of available rental property in the UK.

A spokesman for RICS, James Scott-Lee said: "Although we are beginning to see more mortgages aimed at first-time-buyers, many potential homeowners are still restricted from getting a foot on the property ladder."

He added that this leaves them forced to rent in a market for residential property that is already full with tenant demand.

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