A summer surge in rents could signal good times for Scottish landlords.

Average rent prices in Scotland rose 10% between June and July, bigger than the average 4.4% jump in the UK and a reversal of falls in May and June, according to the July 2014 HomeLet Rental Index, the biggest monthly survey of private tenants in the UK.

David Cox, managing director of the Association of Residential Letting Agents (ARLA), commented: "Perhaps this will go some way towards offsetting the challenging times agents have faced since the introduction of the ban on letting fees."

The figures are supported by the first Scotland Buy-to-Let Index from Your Move, one of Scotland's largest lettings agents, and part of LSL Property Services. It shows that the average Scottish rent was £534 a month in July - the highest on record.

Brian Moran, the Scottish representative of ARLA, said: "The looming independence vote has cast a shadow of uncertainty over the buy-to-let market, but putting that aside, now is a very good time for landlords to consider a property investment."

Investors are further encouraged by the health of tenant finances. They dipped slightly in July, when 6.2% of rent was paid in arrears, against 6.1% in June. However, arrears are stable over the year - and below the average across England and Wales of 7.3%. Moran said: "Tenants are more realistic these days. They tend to opt for accommodation they can afford, without putting too much strain on their budgets."

The Scottish economy is another cause for optimism, according to Gordon Fowlis, regional managing director of Your Move. He said: "When it comes to affording household bills, wages are the key sticking point. So as the employment rate in Scotland overtakes that of the rest of the UK, the country is also moving ahead with improved tenant finances.

"The next step for the health of the labour market, and tenant finances, is for earnings to pick up. It is vital that, whatever the outcome of the independence referendum, the economic recovery stays on course and wage growth is bolstered, so that thousands more households can feel the benefit in their back pockets."

Tenant demand is also high, despite the rising cost of rents, as renting becomes more socially acceptable. In a recent Halifax survey, almost half (48%) of people agreed that the UK will become a nation of renters within the next generation, and one in five 23- to 27-year-olds has no desire to own a home.

Craig McKinlay, mortgages director at Halifax, said: "We may be heading towards the point where the aspiration to own a nice home will be replaced by the aspiration simply to live in one."

The rise in house prices could keep tenant demand buoyant as potential buyers struggle to afford a property. The average house price in Scotland has gone up by 5.9% in the past year to £162,000, according to figures from the Registers of Scotland - the first time in almost four years that property values have jumped by more than 5%.

Renfrewshire recorded the highest percentage rise at 16.8%. The Halifax index of house prices shows an even bigger rise at 10.3% in Scotland, ahead of the national average increase of 8.8%.

Higher house prices can be a mixed blessing for landlords. They boost the capital value of the property, but they also squeeze yields - ie, the rental income as a percentage of the house price. If your property cost £160,000 and you receive annual rent of £6400, the gross yield is 4%.

The gross yield on a typical rental property in Scotland stands at 4%, a dip of 0.1 percentage points since July 2013, but yields remain steady on a monthly basis, at 4% over the past three months.

But landlords should remember that the yield is not necessarily the same as the return on their investment. If you have a buy-to-let mortgage, you must deduct the annual mortgage cost from the annual rent. Tax, maintenance costs and other expenses such as void periods will also eat into your returns.