Demand for rentals grows as number of prospective tenants continues to rise – The Negotiator

Demand from prospective new tenants rose in February for the second month in a row, according to new figures.

Half of letting agents saw landlords increasing rent in February, while the number of properties managed per branch fell.

The findings are revealed in the latest monthly Private Rented Sector report from ARLA Propertymark.

The report reveals that the average number of prospective new tenants registered per branch continued to rise in February to 82, from January’s figure of 81.

This remains the same as February 2020, year on year, but is a big increase on the previous February figure of 65 in 2019.

Regionally, the West Midlands had the highest number of new tenants per branch with an average of 126, with the East Midlands having the second highest at 123 new tenants.

Northern Ireland and the Isle of Wight both recorded the lowest number of new prospective tenants,

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