Research carried out by Paragon Bank indicates tenant demand stands at 62%, which is a record high. BVA BDRC started tracking these figures in 2011, which is the highest percentage seen in the study.
The opening quarter of 2022 shows that the number of people looking for private rental property has grown significantly in recent years.
Big increase in tenants looking for rental property
Comparing the percentage of landlords saying they have seen increased tenant demand in the opening quarter of 2022 with those of the same quarter in 2021 is double. In the opening quarter of 2020, only 16% of landlords felt demand was growing for rental property.
This is something we have seen at Just Lets Peterborough.
We have people looking for a rental property in and around Peterborough, and we know there is significant demand. We also work closely with local landlords. These professionals express the demand they see and want to know how they can best capitalise on this opportunity.
We are here to support local landlords, and if you want to let property in Peterborough, get in touch, and we will be more than happy to assist you.
We know the local area, and we know what tenants are looking for. This helps us to connect landlords with willing tenants. We will ensure you present your rental in the best manner, and we will manage your rental property for you. If you need help in managing your rental property, get in touch, and we’ll be happy to assist you.
Significant demand for rental property seen by landlords
More than one third of landlords have seen a “significant increase” in tenant demand this year, and 28% have seen a slight increase.
Moray Hulme, mortgage sales director for Paragon Bank spoke to the Landlord Today site, saying; “Another record high in the proportion of landlords reporting increasing tenant demand reaffirms the need to increase the supply of homes in the private rented sector. There is evidence of landlords exiting the sector with many citing increasing tax and regulatory requirements making their lettings business more arduous to operate. While it is clearly important that landlords are taxed appropriately and the sector is regulated to ensure high standards are maintained, we must ensure that buy-to-let remains attractive enough to investors who are vital in supplying the properties needed to meet demand.”
Just Lets – Here to Help
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond. Please contact us through our usual channels – email us at peterborough@justlets.com or call us today on 01733 346255.
