No fewer than 74 per cent of landlords say they feel a responsibility to support their tenants during times of financial hardship.

And 44 per cent have financially supported their tenants during the last 12 months, such as reducing or pausing rent. 

The research by The Landlord Works shows that landlords could stomach reducing their rents by an average of 7.6 per cent before coming under pressure – equating to around £50 per property a month based on a typical landlord’s rental income.

While many are able to reduce rent, 45 per cent of all landlords say any reduction would harm them financially. 

Around four in 10 said they intend to keep rents the same for the next year despite the financial challenges, while just over half say they need to increase rents over the next 12 months. One in four plan to raise the rent on all their properties.

In terms of the support offered to tenants by 44 per cent of landlords, temporary rent reductions and rental payment holidays are the most common options. 

However, other landlords have instigated permanent rent reductions, rent holidays or even lent money to support tenants’ day to day expenditure.

Paul Wootton, director of The Landlord Works, says: “Landlords are facing a real dilemma at the moment in dealing with the continued rising cost of living. 

“On the one hand, there is a need to ensure they can cover the increasing costs associated with their properties and ensure they are following the market. However, as our research demonstrates, they are also acutely aware of the financial challenges facing their tenants.

“… While we will see rents rise over the coming months in many cases, we can also expect landlords to offer continued support at what is a tough time for many.”