Landlord Intentions for 2024

• Just one quarter (24%) of landlords intend to increase rents in 2024, while 68% intend to maintain them at current levels and 8% plan to reduce rents.
• Rents have risen rapidly over the past few years. With an average increase of £135 extra per month since Q4 2022 and £450 per month since the same quarter in 2019, financial pressure on tenants has risen.
• Finding and retaining good quality renters is a key priority for landlords and highlights the importance of a good relationship. This may explain why the majority of landlords are looking to maintain existing rents.
• The main challenges anticipated in 2024 by landlords were the cost of maintaining, repairing and running properties, followed by legislative changes.
• Rents in Brighton and Hove have increased significantly in the last 12 months. Student property is seeing higher percentage increases for tenancies staring in September 2024 and are predicted to continue to rise.
• If you’d like to check your rent is in line with current market values, click here for a free online rental report, or contact us on 01273 645797.

Source: #Dataloft, Zero Deposit, TwentyCi