New figures from ARLA’s have found that the number of lettings agents who are finding that they have more tenants than properties has reached the highest level since records began. In light of this new information, Belvoir Sheffield, leading letting agent in Sheffield is making an appeal for new properties in the midst of a national shortage.
Data taken from ALRAS 6,000 members across the UK has identified that 74per cent of respondents believe that demand is outstripping supply, as has beenthe case for the past four quarters.
Rick Flay, Director at Belvoir, who offer a wide range of property to rent in Sheffield, said: “This recent survey is interesting as it demonstrates that tenants are staying in their properties for 19 months which is an all time high.
“Tenants seem to be wary of moving on to new properties in case they are hit with increasing rents or lumbered with an unfavorable landlord, which means that now is a great time for the residential landlord with long term tenants. Tenant loyalty is extremely high at present. We are also finding that tenants arebecoming increasingly wary of the costs involved with moving, and this is another reason why they are staying put.”
According to ARLA, thenumber of new tenancies signed up by agents has risen rapidly in a consistently upward trend since 2001.
Rick added: “Here at Belvoir Sheffield we are appealing to new and existing landlords for their properties. Now is an excellent time to become a residential landlord because rental income is high and void periods are extremely low.”
Belvoir Lettings Agency Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Mortgages.
