#Landlords benefit from boom in rental demand – http://ow.ly/5ElCf
Landlords seem set to take advantage of a glut in people looking to rent rather than to buy property.
The Association of Residential Letting Agents (ARLA) has reported that three-quarters of agencies had more prospective tenants on their books than properties to let.
Just two years ago only one in ten of agents had a surplus register of tenants.
One reason for the surge in demand for rental properties is the difficulty that many people are experiencing in finding properties to buy.
Ian Potter of ARLA said: “Faced with this, many people are turning to rental homes as a more flexible option than buying.
“Yet our research highlights that the dearth of properties is just as real in the private rented sector and is showing no signs of improvement.”
Government figures appear to substantiate the findings of the latest ARLA survey.
According to data published by the Department of Communities and Local Government, over the past five years rental occupancies have climbed by 40 per cent, from 2.4 million in 2005 to 3.4 million in 2010.
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