x
By using this website, you agree to our use of cookies to enhance your experience.
Graham Awards

TODAY'S OTHER NEWS

Tax and red tape the big disincentives for landlords - poll

Half of landlords are positive about the future but new regulations and tax changes are causing concern, according to new research from AXA UK.

A survey of 1,000 UK landlords, which looked at the opportunities and challenges they face following the pandemic, revealed 48 per cent perceive new legislation and regulation to be the biggest challenge, closely followed by increased maintenance costs on 42 per cent.

Of this legislation, electrical safety measure checks and tax changes present the biggest concerns. Although some of this legislation aims to provide increased safety and security for residents, it will potentially result in additional administration and cost for landlords, who may have limited support to implement the changes.

Advertisement

One in seven landlords are considering reducing their portfolio, with younger landlords most likely to consider this - up to one in four. 

Just over a third say they may consider discontinuing their rental portfolio altogether in the coming years, with 30 per cent citing the pressure and cost of too many regulations as a reason.

However, despite a tricky year, two thirds of landlords still think being a landlord is profitable, and over half enjoy it.

Views of the future are bright, with 49 per cent feeling positive and 31 per cent feeling neutral, leaving only 20 per cent negative. 

 

 

For over two fifths, a steady income and having a long-term investment for the future are considered the top benefits of being a landlord. In particular, female landlords are more likely to view their rental portfolio as a long-term investment (49 per cent against 40 per cent of men) while those aged 55 and over are more interested in the steady income than younger landlords.

“These findings show the particular challenges being faced by landlords currently but also the positive outlook the majority have to what they do. It’s encouraging to learn that despite these challenges, they are still reaping the rewards of a profitable business and will continue to grow their portfolios” explains Deepak Soni of AXA UK.

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.

  • icon

    I can cope with red tape and tax what I can't cope with is EPC C. This will have me and many other LLs heading for the door, precipitating the biggest housing crisis this country has ever seen, unless someone gets a handle on the assessment & its ridiculous implementation quickly!

    icon

    If EPCs were consistent and credible it would help.
    Ten years ago it was assumed the flat roof on one of my houses was insulated. This year it's assumed it isn't. I don't know for sure how much insulation is in it and it would be very invasion to find out.

    Another EPC said the cavity walls were uninsulated even though the drill holes were clearly visible.

    Another one was a renovation project with an EPC of F25. My regular assessor came round to advise on how best to improve it and started by carrying out his own assessment. He made it G14. How is such a big difference even possible?

     
icon

Please login to comment

MovePal MovePal MovePal
sign up