For landlords across Devon, the latest rental market data points to a familiar but important pattern: more people are looking for homes to rent, while fewer properties are being offered to the market.
The August 2026 RICS UK Residential Market Survey recorded a net balance of +18% for tenant demand, while landlord instructions remained negative at -14%. In simple terms, more surveyors reported tenant demand increasing than falling, while the supply of available rental properties continued to contract.
RICS respondents also expect rents to rise by approximately 3% nationally over the next 12 months. In the South West, the latest Propertymark snapshot recorded a modest 0.1% increase in average agreed rents during August.
For Devon landlords, that combination supports a market where well-prepared rental property can still perform steadily. It does not mean rents can simply be pushed higher without thought. Affordability remains a real issue, and an asking rent that stretches beyond what the market can support can still lead to longer voids, fewer suitable applicants and a slower letting process.
The opportunity lies in getting the fundamentals right: pricing accurately, presenting the property properly, moving quickly when a home becomes available and keeping compliance in good order.
What the latest figures mean for the Devon rental market
The national figures do not provide a precise rental value for every street or village across Devon. Property type, condition, parking, outdoor space, transport links and energy efficiency will all influence demand and achievable rent.
However, the wider direction is useful.
A positive tenant demand balance alongside a negative landlord instruction balance suggests that good rental properties remain in short supply. For landlords, that can support rental income and reduce the risk of prolonged vacancies, particularly where properties are:
- Immaculately presented and ready to occupy
- Correctly priced for their precise location
- Well photographed and clearly described
- Suitable for the lifestyle of the likely renter
- Supported by a straightforward, professional application process
- Properly maintained throughout the tenancy
The quality of the property still matters. Surveyors are reporting that well-presented stock can let almost immediately, while properties that are poorly prepared or priced too ambitiously may struggle despite strong underlying demand.
In Devon, that local detail can vary from one area to the next. Torbay and Teignbridge may offer useful examples of how demand shifts by location and property type, but the same wider lesson applies across the county: landlords who prepare well usually place themselves in the strongest position.
1. Price for income, not just headline rent
It is understandable that landlords are reviewing asking rents. Higher mortgage costs, insurance premiums, maintenance expenses, tax changes and regulatory responsibilities all affect the return on a property.
There is also evidence that some landlords are setting higher asking rents partly because of the perceived risk and cost of the Renters’ Rights Act. Those pressures are real, but the rent still needs to reflect what the Devon rental market can reasonably support.
The most useful question is not:
“What is the highest rent I could advertise?”
It is:
“What rent is most likely to secure a suitable tenant promptly and protect my income over the full year?”
For example, a property advertised at a rent slightly above its realistic market level may remain vacant for several weeks. The additional monthly income can quickly be outweighed by the cost of the void.
Before deciding on a figure, consider:
- Recent agreed rents for genuinely comparable properties
- Whether the property has parking, a garden, views or additional workspace
- The condition of kitchens, bathrooms, flooring and decoration
- Local transport, schools, shops and employment links
- The likely affordability of the target renter
- The cost of leaving the property vacant while waiting for a higher offer
A realistic price can create stronger early interest, more viewing requests and a better chance of securing consistent income.
2. Make the property ready before it is marketed
Strong demand does not remove the need for preparation. In fact, when applicants have several properties to compare, presentation becomes even more important.
A clean, bright and well-maintained home gives prospective renters confidence that the property will be managed properly after they move in. It also helps your property compete on the basis of quality rather than price alone.
Practical preparation could include:
- Completing outstanding repairs before photography
- Refreshing tired decoration in high-traffic areas
- Deep cleaning kitchens, bathrooms and windows
- Checking appliances, heating and lighting
- Improving garden presentation
- Removing unnecessary furniture and personal items
- Ensuring keys, access arrangements and property information are ready
- Arranging professional photography that shows the home clearly
A property does not need to be lavishly refurbished. It needs to feel cared for, functional and honest in its marketing.
Across Devon, lifestyle can also be a major part of the appeal. A usable garden, balcony, parking space, sea view or convenient access to local amenities may be a show-stopper when presented properly.
3. Present the property to let quickly
Speed matters when supply is tight. A landlord who waits until the property is completely empty before beginning every stage of the marketing process may lose valuable time.
Where appropriate, the letting process can be planned in advance:
- Confirm the expected availability date early
- Arrange photographs before the current tenancy ends, where suitable
- Prepare the marketing description and property details
- Identify any works that need to be completed
- Check certificates and compliance records
- Plan viewings around the outgoing tenancy
- Respond promptly to enquiries and viewing requests
Early preparation does not mean rushing the property onto the market before it is ready. It means removing avoidable delays so that the home can be presented as soon as it is available.
This is particularly valuable across the Devon rental market, where demand can vary between property types and locations. One area may favour smaller homes for working professionals, while another may attract stronger interest in family houses or coastal property. Torbay and Teignbridge are useful examples of that variation, but they are not the limit of the opportunity.
4. Keep Renters’ Rights Act compliance airtight
The Renters’ Rights Act has changed the way landlords in England need to let and manage properties. Major changes came into effect from 1 May 2026, including the move towards assured periodic tenancies and the end of new Section 21 notices.
Landlords should make sure their processes and documentation reflect the current rules. This includes reviewing:
- Tenancy agreements and prescribed information
- The process for rent increases
- Possession procedures and grounds
- Required safety certificates and property records
- Licensing requirements where applicable
- How information is provided to tenants
- Records of inspections, repairs and communications
The government’s Renters’ Rights Act overview for landlords and the official Renters’ Rights Act Information Sheet 2026 provide useful reference points.
Compliance is not simply about avoiding penalties. It helps protect the value and reputation of your rental business, supports better tenancy management and reduces the risk of an administrative mistake affecting your income.
At Butterworth Sales and Lettings, our investment in maintenance reporting software helps create a clearer record of issues, actions and communication. For landlords, that means greater visibility over the condition of the property and a more organised approach to maintenance.
5. Consider whether fully managed lettings would protect your income
A busy rental market can appear straightforward: advertise the property, choose an applicant and collect the rent. In practice, the work continues throughout the tenancy.
Landlords need to manage:
- Maintenance requests and contractor access
- Inspections and property condition
- Rent collection and arrears
- Renewals and rent reviews
- Safety certificates and compliance dates
- Communication with renters
- Notices and possession procedures
- End-of-tenancy checks and deposit matters
The more complex the legislation becomes, the more important it is to have reliable systems and timely processes. A fully managed letting service can help protect income by keeping the property occupied, responding to issues quickly and reducing the chance that important deadlines are missed.
It can also provide practical distance for landlords who live outside Devon, have several properties or simply do not want every maintenance issue to interrupt their working day.
You can learn more about letting services from Butterworth Sales and Lettings, covering landlords across Devon.
Rental property remains a practical alternative while sales conditions soften
The sales market is not always the easiest route for a landlord who wants to release capital or change direction. Properties can take time to sell, and the outcome may be affected by buyer affordability, mortgage availability and wider economic confidence.
The rental market offers a different income profile. It is not without risk, and no landlord should assume that demand guarantees uninterrupted returns. However, the current combination of tenant demand and restricted supply gives well-prepared landlords a more stable platform from which to operate while sales conditions remain softer.
The key is to focus on the fundamentals:
- Buy or retain property that suits demand in your part of the Devon rental market
- Set rents at a level the market can sustain
- Prepare homes carefully
- Act quickly when a property becomes available
- Maintain high standards throughout the tenancy
- Keep compliance records complete and current
- Review your management arrangements regularly
The next step for Devon landlords
The August data suggests that demand is strengthening while available supply remains constrained. For landlords, that creates an opportunity, but only for properties that are priced, presented and managed well.
If you are reviewing the rent on an existing property, preparing a home for letting or considering whether fully managed lettings would give you greater peace of mind, a rental appraisal can help you make a better-informed decision.
Contact Butterworth Sales and Lettings to discuss your property and the next step for your Devon rental investment.
Speak to Butterworth about your Devon rental property
If you are a landlord anywhere in Devon and want to discuss letting, property management or the next step for your rental investment, we would be happy to help.