The lettings group stated that around 40 percent of its landlords were now small landlords with up to three properties but that more rental properties were needed because of the severe shortage that was being seen.
Over recent months the demand for rented property has soared higher and higher. Many first time buyers are unable to get their foot onto the property ladder, as they are unable to get a mortgage in the current climate.
There are also many other would be buyers who prefer not to purchase a property in the current climate and prefer to rent for the foreseeable future because of their uncertain financial futures.
Those landlords that already have property on the market are enjoying a thriving trade as a result of the soaring demand for rental homes from potential tenants. However, there are many would be landlords who may be missing out on an excellent opportunity to make significant money on a rental home because there is still such a huge gap in the market.
The agency said that its demand for rental homes had soared between the beginning of last year and the end of the year and many believe that this demand is set to continue soaring.
In the past some lettings agents were struggling to find tenants for some properties on the market but there are now around five potential tenants vying for each rental property on the market according to officials.
One housing official who works for a housing association said: "In the past we used to get tenants coming onto the social housing waiting list because they could not afford to move into privately rented accommodation. However, these days we are getting a lot of people coming onto the list because they don't seem to be able find a privately rented home that does not already have people queuing up for it."
Source http://www.propertymentor.co.uk/
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