News at Ware & Co | 24/01/2024

  • Just one quarter (24%) of landlords intend to increase rents in 2024, while 68% intend to maintain them at current levels and 8% plan to reduce rents.
  • Rents have risen rapidly over the past few years. With an average increase of £135 extra per month since Q4 2022 and £450 per month since the same quarter in 2019, financial pressure on tenants has risen.
  • Finding and retaining good quality renters is a key priority for landlords and highlights the importance of a good relationship. This may explain why the majority of landlords are looking to maintain existing rents.
  • The main challenges anticipated in 2024 by landlords were the cost of maintaining, repairing and running properties, followed by legislative changes.
Source: #Dataloft, Zero Deposit, TwentyCi