A survey of over 1,000 landlords finds they appear largely reconciled to the election of a Labour government after 14 years of tax and regulation changes under the Tories.
Some 82% have chosen to maintain the size of their buy-to-let portfolio under the Conservative Government. However, one in 10 have chosen to reduce its size, while just 6% have added to it.
And 78% stated that they will continue to maintain the current size of their portfolio should Labour win the general election.
However, almost two in 10 (19%) stated that if Labour were to win they would reduce the size of their portfolio, double that to have done the same under a Conservative government.
When asked which of Labour’s rental market promises they were least in favour of, the intention to end automatic evictions for tenants who fall into rent arrears ranked top.
Rights for renters to have pets was the second least favourable Labour policy, while mandatory EPC upgrades also rank high at number three.
The abolition of Section 21 notices only placed fourth, with four month notice periods also making the top five.
A spokesperson for Zero Deposit, the company that commissioned the survey, says: “The election itself has inadvertently shelved the implementation of the most significant rental sector changes in many years and while it remains to be seen just what will come of the Rental Reform Bill, most landlords will be understandably lacking confidence that either party will drive any real improvement in the sector.”
The company used a PR firm to question 1,095 landlords on June 5.
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The survey was carried out on June 5th according to the above piece. That was over a week before Labour published its manifesto stating that Section 21 evictions would be abolished immediately on Labour taking power. If the survey had been conducted after landlords had had that Labour decision confirmed, then the result may have been different.
Agree, I am stunned a landlord would not be overly concerned about s21. There appears no real detail what they put in place for us to take possession of OUR property if we want to sell. 💰
Give us a proper sec8 so we can get rid of non payers in a timely manor
Just because 82% have decided to stick rather than chuck the towel it does not follow that they are not fazed. I'm sticking, but I'm still annoyed at the likelihood of further interference coming our way under Labour.
Exactly. I too am sticking...for now. But l am definitely fazed! That's putting it mildly.
And l am putting the rents up where otherwise l perhaps wouldn't.
Certainly I'm fazed, i'll stick for now with increased rents and very careful selection of any new tenants
There is no time to do anything before an election, so we just have to wait & see how bad it will be under Labour. Given what the Tories have imposed on LLs over the last 14 yrs I can't really see a Labour Govt being any worse!
🥵🥵 I am not convinced about that.
Tories kicked EPC C into the long grass, but Labour are reintroducing minimum energy performance standards by 2030. And for good measure they are committed to banning S21 immediately, unlike the Tories who said they would wait for court reform before banning. How's that for starters?
Probably not as bad as S24, 3% extra SDLT & slashing the nil rate CGT band.
I don't think Labour will be any worse than Conservative. Can you get worse than horrific, which where we currently are?
Unfortunately though I don't think they will be any better.
The last 5 years have been one disastrous policy after another: Section 24, RRB proposals, EPC C proposals, CGT changes, extra SDLT. Not to mention the disastrous HTB and SDLT holiday overheating the housing market followed by the BOE increasing interest rates to the point HTB buyers couldn't afford to remain in their overpriced homes.
They want to prevent you getting rid of your tenant to either sell it move a relative in, including yourself. THAT is how much worse they can get.😱
HOW MANY TIMES have we got to correct this type of article⁉️ Tenants would/will not "have RIGHTS" to have pets!!! They will have the right to REQUEST having a pet! Nonsense like this 👆fuels a misunderstanding that we landlord’s have to battle to correct! 🤬
My understanding is that tenants will have the right to keep a pet unless the landlord has a valid reason to prohibit it. Therefore, the default position is that tenants will have the right to keep a pet.
The pets thing has been badly worded. Something like "responsible owners" and "well behaved pets" kind of indicates existing pet owners and existing pets. Existing tenants couldn't prove that they would be responsible or that future pets would be well behaved. Obviously that's not how activists have interpreted things. The way retirement developments tend to deal with it is that new tenants can bring existing well behaved pets but they can't replace that pet when it dies.
Zero Deposit wanting publicity again. I do not believe this survey. How many landlords are selling up that contribute to this website?
They can’t replace the landlord when he dies either but they can rob his Estate.
I have recently sold three and sticking with the remaining until existing tenants leave. By then I will have to make a decision whether to take CGT hit on properties with a fifty percent reduced value with sitting tenants or sit it out until 2029. I notice European countries eg France are leaning to the right and I am hoping the far left here will loose support. Hopefully the Conservatives will have come to their senses by then.
Good points. I'm also already looking ahead 5 years to think how things might be by then, if we can survive in the meantime. To be honest mortgage interest is the worst thing for me just now, even worse than S24, and I am only on about 50% LTV, I dread to think what it's like for people with bigger mortgages. I know there are many without mortgages which is great for them, and no need to gloat thanks, we get it.
Margaret - the conservatives have come to their senses. They have formed Reform. And left the non-conservative infiltrators to wither and die.
Jo just add Section 21 can’t miss the big fish, also the unacceptable licensing Schemes both have driven out so many landlords and caused so much homelessness and high rents with unfair unjustified conditions that’s attached to the license which removes all landlords rights completely, more extra ones added all the time Willie nillie, they are the Housing Crisis.
I won't be upgrading my 2 and 3 bedroom Victorian terrace properties with internal cladding to get them to EPC C. It will cost over £15k each. They are at high D ratings but to get 2 more points needed to get the C rating it wouldn't be cost effective. That means I'd be forced to sell those 5 houses. I'm not too bothered but it will mean 10 adults and 6 children would lose their homes. I hope the council can home them because where they are located only about 35 percent of homes have the EPC C rating.
Wendy - Besides which there have been problems with internal cladding.
Be careful, Wendy, or you will go on Gibbo's naughty list.
Some of those for whom PRS is a profession may well be gritting their teeth and buckling up for the longer ride - but us smaller landlords are getting out whilst we can. No one asks us small fry our intentions, but we are a big proportion of those supplying rental homes and we are evaporating away.
If the writer of the article believes most landlords are unfazed by the prospect of being straddled with a lifetime Sitting Tenant on rent control then I suggest he/she should think about putting a drop more water with whatever it is they are drinking.
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