Insurance News Archive
Buy to let insurance policyholders 'see tenant demand soar'
Posted by Jonathan Walker
New figures have revealed that UK landlords are likely to see rental expectations rise as the supply of new properties drops for the second consecutive quarter.
A report from the Royal Institution of Chartered Surveyors indicated that 23 per cent of members have seen a fall in the number of new landlord instructions since the start of April.
Rick Flay, director of Sheffield-based letting agent Belvoir, revealed that demand from tenants was rising so quickly that finding sufficient property to house them was becoming a challenge.
He said: We are seeing proof that tenant demand is certainly increasing, to the point where we are seeking out new properties in Sheffield and the surrounding areas."
Mr Flay urged both seasoned and first time landlords to approach agents for help with capital gains tax, portfolio management and asset protection, in order to assist supply in meeting the rise in demand.
This comes after recent claims from an advice website that the private rental sector has "started its fight back" after a particularly tough period.
Moneyfacts.co.uk last week said that the number of buy to let mortgages had grown by 70 per cent since the lowest point in September 2009.
24 May 2010
