Tenants are resisting rent increases says RICS

Tenants are resisting rent increases says RICS Rent increases are increasingly being driven by the strong demand for rental properties with 19% more surveyors seeing more demand rather than less. But this is offset by the increased supply of rental properties with 8% more respondents to the survey reporting more properties on the market as opposed to fewer. RICS also says that a recent rush to beat the stamp duty holiday by first time buyers could have dampened demand. Without this demand might have been even stronger. One point to bear in mind is that tenants are in the same position as buyers when it comes declining to disposable income and the threats to it in the current economic climate. So maybe they are just being more cautious. With a current shortage of houses on the market RICS says that land-lords are now being forced to buy older properties, many of which need work. RICS is therefore recommending that all agents tell their clients to get a suitable survey before finding out the expensive way. Tenants are resisting rent increases says RICS Trade News selected by Local Linkup on 09/03/2012