Rent At A Record High
An article published by ARLA has suggested that rents are at a record high for the fourth consecutive month, August showing the highest figure on record.
David Cox, Chief Executive of ARLA Propertymark, said: “Although it’s positive to see that supply has risen, it is nowhere near enough to counterbalance the rapid pace of rising rents, which have reached a new record high for the fourth month running. Two thirds of agents reported landlords raising rents last month, which is a significant increase when compared with the two fifths of agents who witnessed rises in August last year.
“Unfortunately, the impact of the Tenant Fees Act will continue to be felt by tenants, as in order to keep their heads above water landlords will need to continue increasing rents to cover the additional costs they now have to bear.”
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