The number of prospective tenants hit the highest on record for the month of April with letting agents registering 82 new tenants per branch last month, according to the latest Private Rented Sector report by ARLA Propertymark.

Despite the average branch registering a record number of tenants, it is down on March’s figure of 84 prospective tenants registered per branch.

The number of rental properties on the market in April continued to pick up, with the volume of properties managed per branch increasing from 193 in March to 201 in April. But this is slightly less than during April 2019 when the figure stood at 202.

The number of tenants experiencing rent rises increased in April, with 67% of agents witnessing landlords increasing rent compared to 60% in March.

The number of tenants successfully negotiating rent reductions fell from 1.7% in March to 1.3% in April. This is the lowest number recorded since January 2020 when the figure also stood at 1.3%.

Mark Hayward, chief policy advisor, Propertymark, said: “We continue to see unprecedented demand from tenants with a record breaking number of new prospective tenants registered per branch for the month of April, showcasing the booming rental market.

“We will be keeping a close eye on the sector in the coming months as the current strength of the sales market may be off putting to private rental investors, and talk of a potential impending taxation on property will be a concern for all types of landlords, but ultimately it is positive to see rent continuing to flow this month.”