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A third of landlords increase rents

Thursday, 29 September 2011 12:00 AM

Landlords saw their rental income increase for the third successive quarter in the three months to the end of September, according to new research by Paragon.

The specialist buy-to-let lender said 34 per cent of landlords increased rents across their portfolios in the third quarter, up from 29 per cent in the second quarter.

Just over 10 per cent said their rental income had increased by between 2 per cent and 4 per cent and 13 per cent said it had risen by more than that. Only 4 per cent of landlords said they had seen a reduction in their rental income over the quarter.

Some 39 per cent of professional landlords said their rental income increased, whereas 75 per cent of smaller-scale landlords said it had stayed the same. The overall average increase for all landlords was 1 per cent.

Nigel Terrington, chief executive of Paragon, said landlords were benefitting without making their properties unaffordable for their tenants. "With tenant demand only looking to increase further in the coming months, landlords are likely to continue to experience increases in their rental income, especially given that 49 per cent of landlords said they expect demand to further increase in the next 12 months.”

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