Redstones Lettings

Demand for rented homes on the rise

A new survey by the Residential Landlord’s Association (RLA) has shown that the demand for rented accommodation will soar as the supply of available homes falls throughout the country.

The survey included almost 3000 landlords and 18% of them stated that there were planning to buy additional properties to rent as a result of current conditions. 33% of the landlords surveyed stated that they had witnessed an increase in the demand for rental property over the past 3 years.

Furthermore, nearly half of landlords (47%) stated that they expected rents to increase over the next year.

Landlords have undoubtedly been hit hard recently by changes to mortgage interest relief, which means that landlords are taxed on their turnover rather than profit unlike other businesses. This has been a reason for rental increases.
However, high quality rented accommodation is in demand and landlords are happy to provide it. Property clearly still offers a good investment opportunity, despite the challenges that landlords face such as tax changes, stamp duty and tenancy deposit caps. At Redstones, we are finding that falling house prices and increased demand is encouraging many landlords to diversify their property portfolio and seek new opportunities. Many of our landlords look at property investment as a long-term strategy and plan to continue into the foreseeable future.

With multiple properties for rent, our property management services are a must. Find out about how we make the process of being a landlord stress free.