Rents projected to rise significantly says ARLA
ARLA in their press release yesterday warned that rents are projected to rise significantly with the introduction of Letting Agent fees and Tax changes that will come into effect soon, they state in their October Private Rental Sector (PRS) report that supply of rental properties and demand from tenants dropped in October.
David Cox, Managing Director, Association of Residential Letting Agents (ARLA), said: _Just when rents were starting to stabilise, the Chancellor has thrown the biggest curve ball, meaning that rents will unpreventably rise when the tax changes and letting fees ban come into effect.
_In terms of supply and demand, this month_s findings reflect seasonal expectations and show the market is slowing in the final quarter. With fewer properties available to rent and a drop in the number of prospective tenants registering interest, tenants tend to stay in their current properties until the New Year arrives._
Readthe ARLA press release in full click here
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