The number of tenants experiencing rent rises increased to the highest figure on record in August, with 64 per cent of agents witnessing landlords increasing them. This is a marginal increase from July where 63 per cent of agents witnessed landlords increasing rents. Year on-year, this figure is up from 35 per cent in August 2017 and 40 per cent in August 2018.

Tenants in Yorkshire and Humberside and the West Midlands were the worst affected with 80 per cent experiencing a rent increase.

David Cox, Chief Executive of ARLA Propertymark, said: “Although it’s positive to see that supply has risen, it is nowhere near enough to counterbalance the rapid pace of rising rents, which have reached a new record high for the fourth month running. Two thirds of agents reported landlords raising rents last month, which is a significant increase when compared with the two fifths of agents who witnessed rises in August last year.

“Unfortunately, the impact of the Tenant Fees Act will continue to be felt by tenants, as in order to keep their heads above water landlords will need to continue increasing rents to cover the additional costs they now have to bear.”