United Kingdom

The cost of living is increased by tenants looking for property, including all accounts | Business news:

There has been a sharp increase in the number of tenants looking for real estate, including all bills, given the rising cost of living, the study shows.

According to the real estate website Rightmove, inquiries about construction rental lists, which cover utility costs, have increased by 36%.

This is happening at a time when millions of people are struggling to manage their household budgets with rising gas and electricity prices.

Research shows that tenants also stay longer in real estate to avoid rent increases when moving to a new location.

Most rentals last more than two years (63%), with only one in five tenants (21%) staying one year or less.

The average monthly rental advertising in the UK (excluding London) in the first quarter of 2022 was a record 88 1,088, up 11% year-on-year, according to Rightmove.

Average rent in London has risen 14% year-on-year to 95 2195 a calendar month.

According to the website, there are more than three times the number of tenants asking for more than the rented property, which makes the market highly competitive, the website says.

Nearly two-thirds (63%) of landlords told Rightmove that they had kept their tenants’ rent the same over the past year.

Read more: Here are four simple steps you can take to save 400 400 on your energy costs.

Houses with balconies, community gardens, pet-owned properties, and zero-deposit homes were also popular with prospective tenants, Rightmove said.

Rightmove property data director Tim Bannister says: “The lack of rental housing և the high demand for affordable property has led to more tenants preferring to extend their lease to stay afloat rather than re-enter the competitive rental market.” .

“People who were waiting to see what happened last year are now facing record rents, so they are looking for a property where they can be more confident about their outcomes, and all the bills are becoming more and more very sought after. “

Follow the Daily podcast Apple Podcasts, Google Podcasts, Spotify, Loudspeaker:

He added. “Landlords may be tempted to increase their rents given the high demand for new tenants, but many understand the challenges of raising rents and bills, as our study shows that most tenants charge as much as a year.” forward.

“Many landlords build relationships with their tenants over several years; they will want to keep a good tenant longer if they can, rather than cashing out a rent increase in the short term.”

The cost of living is increased by tenants looking for property, including all accounts | Business news:

Source The cost of living is increased by tenants looking for property, including all accounts | Business news:

Back to top button