The growth in rents is beginning to slow and is now matching the rate of house price growth, according to HomeLet.
The firm says that after sustained growth over nine months the rate of increase is slowing down.
They say that while rents are 10% higher than they were in September 2014, in the quarter to September 2015 the rate of increase was just 8.5%.
Landlords are now enjoying new average rents of £995 in the UK, while landlords in Greater London are charging £1,555.
Rents are dropping in London
However, rents are dropping in London for the first time since February.
Barbon Insurance Group's chief executive, Martin Totty, said: “Tenants’ real income and affordability is important when determining rents and now the economy has fallen into negative inflation this should boost consumer spending.”
He added that wages and inflation will have a big impact in the short term on the trend for rental prices and that rental property supply is failing to keep up with demand from tenants in the private sector.
Of the 12 regions surveyed, the largest rent increases were recorded in Scotland with 8.4%, and in the East Midlands with 7.7%. Rents in Greater London rose by 6.6%.
However, the findings also revealed that three regions saw negative price increases with rents dropping 4.6% in the north-west, East Anglia rents dropped by 2.2% and in Northern Ireland they fell by 1.4%.
Scotland's rents rose more slowly than those in England and Wales
Meanwhile, in a separate report it has been revealed that rents in Scotland are rising at a rate that is less than a third of that seen in the rest of the country.
Critics say this is down to the country’s Private Housing Bill, which will lead to stricter regulation than elsewhere in the UK and which will dissuade landlords from investing in Scotland's buy to let sector.
The data comes from letting agent Your Move who say that rents in England and Wales rose by 6.3% over the past year.
Scotland rents appear to have plateaued
They point out that from their figures, rents in Scotland appear to have plateaued.
Indeed, landlords saw rents between August and September 2015 fall by 0.3% with rents now 0.8% lower than their July peak.
The lettings director of Your Move Scotland, Brian Moran, said: “We are seeing a slow rate of rental growth which does not come close to what we are seeing south of the border.”