The economy may have endured a torrid time in recent years, but with the country now out of the recession and things looking up, a cautious sense of optimism appears to be bubbling among the population.
However, while this marks a significant turning point that many businesses have been holding out for, private landlords have been enjoying a boom in the buy-to-let sector for some time now - and there is little indication that this will come to an end.
As fresh figures released by self-serving lettings agency Upad reveal, the business saw an average of 19 enquiries from prospective tenants for every tenancy that it advertised last month.
And with the number of rental properties on the market starting to fall, it seems that demand will continue to outstrip supply even more significantly in the coming months.
"Upad received double the amount of calls from tenants last month compared to the start of the year, and Rightmove's rental stock is down circa ten per cent year on year," said James Davis, founder of Upad.
Yet it wasn't only an increase in enquiries that was noted by the lettings agent, as it was also apparent that more tenants were looking for flat-shares or room rents in larger houses as a means to save money.
"It's interesting to see how tenants are trying to make savings. While living in a house-share with five other people isn't necessarily ideal for many, rents are often lower and bills are split between the household, meaning that tenants will have more money in the bank every month," Mr Davis added.
With demand in the private rented sector looking set to remain strong and the opportunity for profit still promising, it's important that investors take steps to maximise their returns and reduce the risk of losses.
Landlord insurance policies are an effective way to achieve this, covering the cost to repair damage inflicted by any accidents in a property.