ARLA Propertymark is renowned as the UK’s professional and regulatory body for letting agents.
Propertymark is responsible for protecting consumers, by holding members accountable and providing customers with advice and knowledge to empower them.
Rent Prices Continue to Climb
ARLA’s Private Rented Sector Report covering February shows no sign of demand slowing down in the rental market.
ARLA’s report shows that year-on-year figures have risen with 49% of agents seeing landlords increasing rent compared to 39% in January, compared to 40% compared to February 2020.
The number of tenants successfully negotiating rent reductions remained static at 2% which is the same as the figure reported in February 2020.
Number of Prospective Tenants Continues to Rise
ARLA’s Report also shows new tenants registered are up from January, and although consistent year on year, it is still a huge leap from Feb figures 2019. ARLA’s report continues to illustrate that regionally, the West Midlands had the highest number of new tenants registered per estate agent branch.
Important Dates Coming Up
1st July 2021 – EU/EEA Nationals and Right to Rent
The automatic right to reside in the UK for new EU/EEA applicants will no longer apply. All new applicants except those from Ireland will need to prove a right to rent (pre-settled or settled status evidence). This will not be retrospective so current tenants will not need to provide evidence.