In a market snapshot for June, the Association of Residential Lettings Agents (ARLA) says the number of tenants experiencing rent rises increased to the highest figure on record. Whilst June was the first month following the new legislation entering into law, the finding seems to confirm that warnings given to Government that rents would rise as a result of the tenant fee ban were valid.
Some 55 per cent of agents surveyed by ARLA saw landlord clients increasing rents during the month, a full 22 per cent up on the previous four weeks which itself had been a previous record high.
Year-on-year, the number of tenants facing rent increases is up from 31 per cent in June 2017, and 35 per cent in June 2018.
Meanwhile letting agents had an average of 199 properties under management per member branch in June, a decrease from 201 in May.
Demand from prospective tenants also increased marginally in June, with the number of house hunters registered per branch rising to 70 on average, compared to 69 in May.
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