Strong demand for rental property set to continue - Latest Insurance News
Current strong demand within rental property is set to continue, suggesting that property owners can expect the market to remain a solid market for growth.
That's the view of David Lawrenson, private rented sector expert at LettingFocus.com. He has told of his belief that despite rising rents within the buy to let market there is still a continuing demand for rental property because of the continuing struggle people face trying to buy properties themselves.
Mr Lawrenson said: "In the current economic environment, there is still a deep, strong, continuing tenant demand coming through. The rising rents at the moment are probably making more people enter the market as landlords. As rents go up, it continues to be a relatively profitable and secure investment for landlords."
Despite the predicted continuing demand, landlords should still maintain adequate rent guarantee insurance should any problems occur.
The Association of Residential Letting Agents (Arla) recently reported the number of new tenancies has been at record levels for the past year, but the private rented sector may be nearing capacity.
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