Private rents hit record highs

[Mark Rocks]

The housing market is heating up – and not just in terms of house prices. 

It was announced yesterday that private rents have risen to record highs, escalating more than 20% in some areas like Manchester. 

The research (from Rightmove) lays part of the blame on the divide between supply and demand for rental properties in the UK. 

Another interesting note is that rents fell in some city centres (when a small number of tenants wanted to go further out of the city), and those who secured lower rental prices are naturally unwilling to risk losing those by moving. 

Looks like the impact of the last two years is still being felt. 

Have you increased your rents in the last year? https://www.theguardian.com/business/2022/jul/14/private-rents-in-uk-reach-record-highs-with-20-rises-in-manchester

[george-choy]

Yes. All my rents have gone up.

However, not as much as the market rate as it has shot up way faster than I am comfortable passing onto the tenants in one go. I know some Landlords are evicting their tenants and then jumping to market rent, but I don't feel that is ethical. I prefer to keep my tenants long term and gradually increase the rent over the years.

[karl_sparks]

Hi all.

Yes have put rents up but not as much as the market is demanding. I have good tenants and would rather keep them happy than upset the apple cart. 

[sree63702_gmail_com]

The busiest rental and moving period tends to be between the months of May and September. 1 The reason for this is fairly straightforward: A number of life changes tend to occur in these months.

[gerhardtbeckes]

Rental prices in Florida have risen 16% since February.

[EvolutionBlogger]

On 9/2/2022 at 4:11 PM, gerhardtbeckes said:

Rental prices in Florida have risen 16% since February.

Florida has been on a tear for the past few years