60% of properties are overdue a rent review

With average tenancy lengths increasing throughout the pandemic, many properties in the Camberley, Chobham, Fleet and Yateley areas are being rented at below market value. The recent report by Rightmove shows that the amount of rent charged by landlords stayed the same over the last 12 months, despite rents reaching record highs.

Average rents are now 15% higher than the same period two years ago, when the pandemic was in the beginning stages.

Rents reach record highs

Data revealed by Rightmove has revealed record high rental costs for tenants outside London.

National rents outside the capital have reached an eye-watering £1,088 per month on average as demand has continued to far outweigh supply.

Annual rental growth reached 11% over the past year – the first time on record that rents outside London have exceeded 10%.

With rental demand up by 6% and the number of rental properties available being 50% lower than at the same point 12 months ago, the rental market is the most competitive it’s ever been.

Book a rental review with Waterfords Estate Agents

If you haven’t had a recent review of your rental property then contact our trusted and friendly Lettings & Property Management team. It’s important to find out if your property is achieving rent in line with the fast-paced lettings market in the Camberley, Chobham, Fleet and Yateley areas. Call us on 01252 623330 or email lettings@waterfords.co.uk to make sure you are getting the most out of your investment.