Agents have “toughest job” in era of high rent ri...

Letting agents have the toughest job trying to balance the needs of landlord and tenants while politicians create uncertainty around the future of the rental sector.

That’s the claim by a prominent industry supplier, Andy Halstead, who is chief executive of HomeLet and Let Alliance.

His comment come alongside his companies’ latest rental index, which shows rents up 0.2% between May and June.

Rents increased the most in Scotland, with a whopping +3.8% in a month.

Other regions that saw an increase were Northern Ireland (+1.8%), Wales (+1.6%), South East (+1.5%), East of England (+1.2%), West Midlands (+0.4%), North West (+0.3%), East Midlands (+0.2%) and the North East (+0.1%).

Meanwhile rents decreased in Greater London (-1.6%), Yorkshire & Humberside (-0.6%) and South West (-0.3%).

Halstead says: “The data and analysis speak for itself. All stakeholders in the private rental sector are managing their way through turmoil, not least landlords and tenants. Professional letting agents have the most difficult task, balancing the needs of both, whilst working in a political void, with uncertainty everywhere.

"It is rarely quoted that a tenant can now quite easily occupy a rental property for 12 months or so, without paying a penny in rent. Whilst this is a fact, politicians run away from dealing with the challenge.

"A viable private rental sector requires support for all stakeholders, including agents and landlords, this still looks like a pipe dream. Rent Guarantee and Legal Protection have never been more important.”

The full breakdown of rent increases, variances and rent-to-income ratios can be found on the HomeLet website.