This increase in tenant demand is fantastic news for the rental property industry – and indicates a healthy growth for landlords and buy-to-let mortgage holders.
London (PRWEB UK) 31 May 2013
The number of people looking to rent accommodation has enjoyed a considerable increase says Total Landlord Insurance - with those searching for rented properties between February and March this year going up by 21 per cent.
According to a report from everydayloans, the increased demand within the private rented sector outstripped that of new housing - experiencing only a five per cent hike across the same period. Additionally, landlords also enjoyed the news that the total of new tenancies agreed had shot up; rising by 13 per cent between February and March 2013.
Total Landlord Insurance’s Eddie Hooker commented: “This increase in tenant demand is fantastic news for the rental property industry – and indicates a healthy growth for landlords and buy-to-let mortgage holders. A recent survey found that around 30 per cent of them were feeling positive about the future, with high hopes for their portfolio.”
These figures, as reported by Mortgages for Business, also identified that the average yields are currently at 6.2 per cent across the UK – however some areas were noting yields of up to 6.6 per cent.
“It looks as though the first quarter of this year has treated landlords exceptionally well,” said Hooker. “And considering that the number of new tenancies this March was 19 per cent higher than the same time as 2012, let’s hope this optimism will continue!”
As specialists offering extensive coverage since 1996, Total Landlord Insurance has provided a number of different insurance solutions – as well as catered to the needs of a hugely diverse client case in the UK by offering services such as emergency cover, tenant referencing, property insurance for landlords as well as many other effective policies.
Total Landlord Insurance also supplies a number of helpful resources including factsheets and guides, a monthly newsletter, case studies and podcasts to ensure each of its customers are well-informed and are up-to-date with the latest landlord news – and as a finalist in the 2011/12 Landlord & Letting Awards, Total Landlord Insurance promises highly credible and quality standards.
For a free quote or to find out about the different policies available, customers can count on Total Landlord Insurance. Cheapest landlord insurance solutions at the touch of a button? Head to http://www.totallandlordinsurance.co.uk for more information today.