UK sees rise in 'reluctant tenants'

Posted by Mark Cunningham

There has been an increase in the number of so-called 'reluctant tenants' in the UK, it has been suggested.

According to the Association of Residential Letting Agents (Arla), the supply of rental properties is falling but demand for such residences is on the rise.

Research conducted by the professional body - which was established in 1981 and aims to promote standards in the industry - found that 54 per cent of landlords thought that consumers were being forced to rent as opposed to buy.

Operations manager at Arla Ian Potter claimed that new tenants include people who were forced to sell their residences due to financial instability or a job move.

He added: "Many people now in a position to buy are struggling to find the right property, as there is also a shortage of both properties for sale and realistic mortgages."

Mr Potter went on to claim that the challenge currently facing the industry is how to provide enough good-quality rental homes.
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26/01/2010 13:38

News category: Property

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