UK landlords take on 'reluctant tenants'

The UK housing market is suffering a trend of "reluctant tenants" who are being forced to rent rather than buy, according to new research.

Four in ten letting agents have reported more tenants than there are properties available on their books, according to the Association of Residential Letting Agents (Arla) survey.

This will be of interest to landlords with houses to rent in Addlesstone and other areas, who may be experiencing a high demand for short-term lettings contracts from tenants renting in the interim between buying a new home.

Ian Potter, operations manager at Arla, explained that there is also a shortage of properties for sale and realistic mortgages.

He explained: "This rise in tenants is a positive sign for the industry, as it indicates increased market movement.

"However, as demand exceeds supply we are faced with a new challenge - how to provide enough good-quality rental properties to meet this demand."

Meanwhile, recent research by Paragon Mortgages indicates that one in ten landlords intends to invest in another rental property before April 2010.

Article Date: 23/01/2010