The beginning of 2012 saw the first monthly increase of rent prices in January ever recorded, according to research carried out by LSL Property Services.

Usually perceived as a period of relative quiet in the rental market, LSL's figures found this to be the first monthly rise in January since it began records in 2008. 

With the rental market currently growing due to the difficulties involved with getting onto the property ladder, landlords appear to be taking advantage of the increasing demand for rented property.

Despite the rise appearing relatively insignificant at 0.1 per cent, the fact that this is the first time it has happened indicates its importance.

Rental arrangements now look set to play an expanding role in the UK property sector, and insurance for landlords could become ever more important in securing their assets.

David Newnes, director of LSL Property Services, said that the growing desire for rented accommodation "will drive further rent rises over the long-term." Such news could also lead to a possible growth in applications for buy-to-let mortgages.

Mr Newnes continued: "with property prices unlikely to shoot up in the face of the current economic malaise, yields will remain strong for the foreseeable future."

Whilst there were certain regional variations in the trends of rent - London saw a 0.8 per cent increase where the West Midlands experienced 1.8 per cent - the overall upwards trend is expected to continue.

January's rise equated to a £30 increase in rent over the past year, indicating that the rental market appears to offer a growing potential to make money. This could prove to be a worrying development for current tenants and those looking to move into rented property in the future, although Mr Newnes noted that the number of "financially robust" renters means few are at risk.