📢 RENTS GO THROUGH THE ROOF as 79% of Tenants experience rent increases in August! 💰

August key findings from ARLA Propertymark - Download the FULL REPORT below 📩:

✅ Average new prospective Tenants per branch jumped further to 10, from July's figure of 102 🚀
✅ This is the highest figure ever recorded for the second month running and surpasses last month’s previous record 💽
✅ In East Midlands the average is right down to 58 (wayyyyy lower than the 100 seen last month) 🤷‍♀️
✅ Tenants experiencing rent increases jumped significantly for the second month in a row, as 79% of Agents saw Landlords increasing rents (compared to 71% in July) 💰
✅ This is the highest rate increase on record, beating the previous record of 68% in May this year for a second month running. 🥇
✅ The number of Tenants successfully negotiating rent reductions decreased from 1.1% in July to 0.4% in August (lowest August figure since records began) 📉
✅ RENTAL STOCK: The number of properties managed per letting agent branch decreased from 204 in July to 196 in August (slightly less than August last year when the figure was 208)🔻
✅ In August, Tenants viewed a property an average of 5 times before it was let (the same as last month and entire year since June 2020) 👀
✅ In August, Tenants stayed in their rental properties for 22 months on average, a slight increase from 20 months in July 👍

🔍 Want more detail and lots of bar graphs? 📊 DOWNLOAD FULL REPORT HERE: https://lnkd.in/dVbSNMtM 📩

🙋‍♀️ 𝐀𝐫𝐞 𝐲𝐨𝐮 𝐦𝐚𝐱𝐢𝐦𝐢𝐬𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐫𝐞𝐧𝐭𝐚𝐥 𝐢𝐧𝐜𝐨𝐦𝐞?

Get in touch with our EXPERT TEAM today and we'll let you know 🦹‍♀️🦸‍♂️

☎📧🗨

#cavendishexperts #lettings #property #properties #rents #investmentproperty #landlord #tenant #lettingagency #lettingagent #investinproperty #landlords #prsreport #prs #rentalproperty #rents

Cavendish Residential Lettings Agency and Estate Agency in Nottingham