The Royal Institution of Chartered Surveyors (Rics) Letting Survey has indicated that the net balance of its members reporting falls rather than rises in rents dropped from 48 per cent to 55 per cent.

Despite this being the lowest level in years, the net balance of chartered surveyors anticipating future rental declines - as opposed to increases - rose to 25 per cent from 41 per cent.

This comes after managing director at Smartlandlord.co.uk, Keshav Thukaram, said that there are currently a number of buy-to-let bargains for landlords to find.

Rics spokesperson Jeremy Leaf commented: "Property transactions are starting to rise from very low levels and the influx of supply in the rental market has slowed as vendors begin to find buyers."

He added that there is still a high demand for rental property in the UK, but a flooded market has allowed the landlord-tenant relationship to favour to the latter - as they have been able to negotiate good deals.

Mr Leaf also suggested that the downward pressure on rents "should ease in the coming months", which he claimed would be welcome news for private landlords.

Written by Mark Garner
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