Just one quarter (24%) of landlords intend to increase rents in 2024, while 68% intend to maintain them at current levels and 8% plan to reduce rents.
Rents have risen rapidly over the past few years. With an average increase of £135 extra per month since Q4 2022 and £450 per month since the same quarter in 2019, financial pressure on tenants has risen.
Finding and retaining good quality renters is a key priority for landlords and highlights the importance of a good relationship. This may explain why the majority of landlords are looking to maintain existing rents.
The main challenges anticipated in 2024 by landlords were the cost of maintaining, repairing and running properties, followed by legislative changes. Source: #Dataloft, Zero Deposit, TwentyCi
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