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More tenants move than ever before

Posted on 2011-10-28

Demand for rented properties has reached new levels after a record number of tenants moved into a rented property last month.

In September HomeLet referenced 41,100 applicants for rented properties - a 17% increase in volume from the same time last year, and an amount never achieved before. Also, since July 2011, HomeLet has carried out more than 110,000 references.

Following a 4.5% increase in the number of letting agents HomeLet works with over the past 12 months, the additional customers have also enabled the company to increase its number of employees. Since April 2011, 81 new members of staff have joined HomeLet – seeing the overall number rising by more than 30%.

Another factor which has contributed to HomeLet’s success is the increase in demand for people wanting to move into a rented property. According to the HomeLet Rental Index, more people than ever are moving into the private rented sector, and average UK rental amounts have increased by 8% from the beginning of this year.

John Boyle, Managing Director of HomeLet, said: “Carrying out this record amount of references has not only benefited HomeLet, but also our letting agent customers who have seen the amount of tenants applying for their rented properties increase by 15%.

“I am very proud to see HomeLet expand despite local and national economic struggle. With demand for rented properties at an all time high, and people still struggling to purchase their own home, HomeLet is currently moving around 2,000 tenants in the UK every day. With this in mind, I am confident we can work with our agents to increase this even more to not only boost our individual businesses, but also the lettings industry as a whole.”

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