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Property available for rent is increasing, says report

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The level of supply in the private rental sector is increasing, according to the Association of Residential Letting Agents’ latest quarterly report.

Data from ARLA reveals a boost in the average number of buy-to-let properties managed by the association’s members. There was an increase of almost 10% from 135 properties to 148 properties over the last three months.

ARLA believes the amount of landlords increasing their investment in buy-to-let properties is the factor behind the increase in supply in the private rental sector.

However, consumers still face massive competition for rental property, with  65% of ARLA agents saying there were more would-be tenants than properties available on their books. This figure is down from 68% from last quarter.

This figure can only shrink further if more property is available to rent. The rental market is booming and a regular property supply and responsible landlords can maintain its strength.

For more information click on the link below:

Mortgage Finance Gazette

 

Neil Jennings

Neil is the Operations Director at Assetgrove Lettings, London's Leading Rent Guarantee Company, providing Landlords with no voids, property maintenance, fee-free property management and stress-free service.

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