If you’re a tenant, you’re probably already feeling the pressure of sky-high rent costs eating into your budget. Unfortunately, it doesn’t look as though that pressure will ease any time soon, with many landlords expecting to hike up rents in the months to come – which could lead to tenant finances being even more stretched.
Ticking time bomb
A new report from TheHouseShop.com warns of a ticking time bomb in the rental sector, with many tenants simply being unable to afford any planned increase in rent. The report cites figures from Kent Alliance which show that 40% of landlords plan to raise their rents by an average of 5.6% in the next six months, while 56% of landlords questioned by the Residential Landlords Association (RLA) plan to do the same in the next year.