Almost exactly a quarter of landlords questioned in a survey admit to being baffled by the constantly changing regulations surrounding the private rental sector.
Of those in that position, just over a third say it’s difficult to keep up with the pace of change, while a hefty one in six find the process stressful - with a third of those tempted to sell up rather than keep up.
A fifth say they can’t afford the necessary legal advice and more than one in eight find it challenging to comprehend regulations and how exactly they are affected.
The research also revealed a worrying lack of awareness of several important regulatory issues and trends: around one in seven were unaware of local licensing arrangements, the appropriate health and safety regulations, and incoming sustainability and energy requirements.
Around one in 10 were unaware of new smoke and carbon monoxide alarm requirements, changing to Capital Gains Tax filing deadlines, and the planned changes to the minimum EPC standards.
Of those landlords who DID feel on top of the changing landscape, a third say they conducted their own research while another third said their letting agent would keep their properties in line with regulations.
Just over a fifth read landlord trade publications and newsletters, and 18 per cent receive advice from a lawyer.
The survey was conducted by Direct Line business insurance and its business manager Jamie Chaplin says: “Landlords are faced with a range of challenging regulatory changes and issues and our research suggests this is causing them a range of problems. In some cases, this is causing stress and anxiety, which is leading many to consider selling their properties.”
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They won’t have a PRS soon if they carry on and then they will be begging landlords for rental properties
Baffled no. Fed up with the interference of fools yes!
Agree with Adrian and Yvette - Sadly i am more than aware, and it's simply draining me, i too am looking to totally sell my properties in about 4 years, my excellent long term tenants will be evicted and the local authority will have the headache of housing two more families, it is just so avoidable.
Agree with all comments so far. Aware of all the changes. However, totally baffled by the meddling by the politicians, so called charities, like Shelter and Generation Rent, saying they are doing to safeguard the tenants, when they are doing more harm to the PRS. It baffles me that Nationwide funds one of these charities. Nationwide should not interfere in what they do not understand. Bafflement is interference showed by organisation who do not understand the logistics of renting and loss of homes by tenants for legitimate reasons. May be tenants are making out that they are victims after not paying rent and blaming the landlords to Shelter etc. Shelters not looking into the real problems.
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