According to the National Landlords Association (NLA), this is because there are now fewer houses available for rent.

Vincenzo Rampulla, public affairs officer at the NLA, explained that accidental landlords are now leaving the rental market, leading to higher demand for the properties that are left.

A recent study by Arla found that 58 per cent of letting agents feel that the lack of available housing to rent is the biggest problem facing the sector.

Mr Rampulla explained that one of the reasons there are fewer homes available to rent is that landlords are unable to secure the finance to purchase new properties.

“Until lenders release their purse strings we will see many landlords unable to make the most of low interest rates and increased tenant demand,” he commented.

Mr Rampulla added that it is “no surprise” only a few landlords are planning to increase their portfolios.

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