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Rental income increases for a third quarter

Just over 10% of landlords said their rental income had increased by between 2% and 4%, whilst 13% of landlords increased rents above that level. Only 4% of the landlords surveyed for the quarterly report said they had experienced a decrease in their rental income.

Almost four out of 10 (39%) professional landlords said their rental income had increased during Q3, whilst 75% of smaller-scale landlords reported little change, with their rental income remaining the same. On average the overall increase for all landlords was 1%.

Nigel Terrington, Chief Executive of Paragon, said: “Tenant demand has been growing for a number of years, but in recent months it has accelerated considerably.

“As the report shows, a third of landlords are benefiting from increases in rental income without making their properties unaffordable for tenants.

“With tenant demand only looking to increase further in the coming months, landlords are likely to continue to experience increases in their rental income, especially given that 49% of landlords said they expect demand to further increase in the next 12 months.

“It is crucial then, with increases in demand, that investment continues to be made in the private rented sector, ensuring that it remains fit for purpose and continues to provide good quality and affordable housing to millions of tenants.”

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One thought on “Rental income increases for a third quarter

  1. It’s all very well for landlords to increase rents due to surging tenant demand, but while it may look good on paper and rolled into national statistics, unless landlords are actually receiving the rent, it remains just a statistical exercise. While rent arrears increase due to rising rents, higher cost of living, unemployment, in my experience it’s better to have a steady income that you know your going to get and set an achievable rent rather than a false economy, where landlords lose money due to rental voids, eviction procedures and rent arrears.

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