The proportion of homes let by a company landlord through the Countrywide group has reached new highs, Hamptons claims.

The Hamptons International Monthly Lettings Index showed that the proportion of properties rented through companies rose to 18% in the first half of 2018, up from 14% this time last year.

This may have some benefits for tenants, with the data showing that company landlords offer a high proportion of properties with cheaper rents.

A third of homes let by a company landlord cost under £500 per month, compared with 19% of homes let by individuals.

Yorkshire and the Humber had the highest proportion of rented homes owned by a company landlord at 25%, while London hosted 20%.

The index also showed the average cost of a new let in Britain rose to £956 per month in June 2018, up 0.7% annually but slower than the annual growth of 1.3% recorded in May.

Rents rose the most in Wales, up 4.1% year-on-year to £671 per month. London rents fell across the capital on average, with outer London prices down 0.5% to £1,489 per month.

Aneisha Beveridge, analyst at Hamptons International, said: “The number of rented homes owned by company landlords continues to rise.

“Nearly one in five homes let so far this year were owned by a company landlord, almost double the proportion in 2015, before the tapering of mortgage interest tax relief changes were announced.

“Companies are generally taxed more favourably, so in many cases landlords can make cash savings by operating through a company rather than as an individual.

“Rental growth slowed in June, falling below 1% for the first time in seven months as the shortage in stock begins to level out.

“The lull in landlord purchasing activity following the Stamp Duty surcharge for second homes appears to have bottomed out as investors find new ways to make their returns.”