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Vast majority of landlords ‘not optimistic’ about 2024

The substantial majority of landlords lack any optimism about their sector as they enter 2024.

That’s the result of a new sentiment survey conducted amongst 1,042 landlords by an industry supplier.

Some 89 per cent of respondents have between one and three properties within their buy-to-let portfolio. When asked on their perceptions of the rental market for the year ahead, just 21 per cent stated they were optimistic/


Some 24 per cent were pessimistic, while 55 per cent remained neutral. 

And while 24 per cent intend to increase rents in the New Year, 68 per cent will maintain them at current levels, while eight per cent actually intending to reduce them. 

With inflation yet to be fully tamed, the cost of maintaining, repairing and running their portfolio ranked top of the challenges in the year ahead, followed by legislative changes. Finding and retaining good quality tenants also ranked high along with higher interest rates for buy-to-let mortgages. 

Finally, the landlords were asked which of the proposed changes to be introduced as a result of the Rental Reform Bill landlords believed would prove the most challenging. 

The abolition of Section 21 evictions ranked top as the biggest potential challenge for landlords in 2024. Limits to rental price increases and changes to notice periods ranked second, while greater rights for tenants when it comes to owning pets placed third. 

“It’s clear that the Rental Reform Bill and the abolition of Section 21 evictions, in particular, remain a concern for many landlords. It’s seen as fundamental to protecting their property when significant issues arise and with so many factors now working against them, many landlords have reached their tipping point and have exited the market” says Sam Reynolds, chief executive of Zero Deposit, the firm that commissioned the research.

“This comes at a time where more stimulus is needed to encourage landlords to invest in the sector, such as a more lenient tax regime. Without this, and in the absence of any meaningful progress in the building of new homes, the supply of rental stock will remain insufficient and rental prices will continue to rise in 2024. More bad news for the nation's renters. 

“Landlords electing to not increase rents, despite a vast number of reasons to do so, speaks to an understanding of their tenant’s financial constraints. In many cases, and in my experience, this underlines the impact of a positive relationship between landlords and tenants with just a small proportion planning to increase rents in the new year.”

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Poll: What's Your Biggest Worry for 2024 as a Landlord?


  • icon

    Five of my mortgages came off their fixes in 2023. The cheapest new deals I could get were 5 year fixes. The average monthly increase in the payments was £500 per property. Even though most of them are HMOs or student houses I can't increase rents by that much in one year. The cost of everything else is increasing - utilities, council tax, HMO licensing, gas safe checks, EICRs, insurance, tradespeople, materials, etc.
    That all guarantees rents will have to increase for the foreseeable future.

    I think landlords need to remember wages and UC have all increased and the LHA is increasing in April. In a great many cases the tenant has a far higher income than the landlord. We need to be a bit careful about being too mindful of a tenant's financial constraints when our own financial constraints may actually be more severe. Section 24 means a lot of landlords have lost their Child Benefit and are paying tax on a loss.


    Well said Jo..

    We have to look after ourselves and our families first.

    We're not running a charity and apparently some charities also put themselves first- even promoting measures and behaviour which benefit their charity/business whilst harming those they claim to help.

    Whilst our properties are fully occupied with rents up to date we're all doing our bit to combat homelessness. It would be different if our properties were left empty or being sold off because no one could afford the rents needed to keep our businesses viable- and that would not be our fault or responsibility due to external pressures beyond our control.

  • icon

    Sam and Zero Deposit again. At least this is a more likely survey.

  • icon

    Another poll Labour lead. I take one look at what the next front bench will look like in absolute horror. The current one is not a pretty picture but like many I can’t wish the alternative on the country.

  • Sarah Fox-Moore

    The PRS is now in terminal decline having sustained a barage of blows designed to drive out landlords and consequently jack up rents to eye watering new levels.

  • icon

    I think Labour is the most pressing concern because there could be a Spring general election and an abolition of Section 21 notices if Labour then takes power. That makes the Renters Reform legislation timetable irrelevant.

    Richard LeFrak

    Only spring GE if there is huge tax giveaways to go with it.


    The tax giveaways seem possible.

  • icon

    my vote would be joint, renters reform bill and a labour government both are a kick in the balls


    78% consider the Renters Reform Bill and the prospect of a Labour Government to be the biggest worries, so you are not alone Andrew.

    I think many landlords fear that they will not be able to continue because government interventions/legislation are not compatible with running a business.


    The percentage is now 79%.


    The percentage for those two combined is now 85%.

  • icon

    Why didn’t our Landlords Association's have a campaign to stop removal of S.21.
    Instead of some individual trying to do it too late and poorly supported.
    They were in the best position to do it with a bit of clout.
    I see an individual in Social Housing complaining about mould on the Ceiling of the Shower, campaigning for no Repairs no Rent that’s a good one they have lived there 27 years ?. Anyway have they ever heard of scrub it down and and plenty of anti-mould products in local shops to wash it down with. Nevertheless they have a petition going which I couldn’t sign when asked, but guess what they have 30’000, signatures, it goes shows how poorly we are represented we would have had hundreds of thousands of signatures if we had a properly run Campaign.
    Won’t say any more about the particular you might be reading about a Court Case.

  • David Hollands

    With the loss of the mortgage tax relief Private buy to lets with a mortgage are running at a loss.
    The result of this is Tenants will have to be evicted and properties sold.
    This is not good for me or the tenants.
    The current BTL Tax is unfair to the private landlords.
    By the end of 2024 50% of the private Buy to let will be gone, rents will go up due to 20 tenants trying to rent each property that's left.

    Reply Edit Like 3 people like this Report
    Worried Landlord20 December 2023 10:07 AM
    It's already a rate of 100 enquiries in 3 days per property (at which point openrent pause your advert) so there would be even more enquiries if advert not paused...

    Private landlords need action Now !!!

    Or the private rental market will be out of control !!

  • Richard LeFrak

    So looking at todays headlines one saying better days and another which is doom and gloom. Which is it???

    Same as the government, seriously lacking in both direction and a cohesive plan.

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    A £9000 licensing bill this year from my portfolio and a “Dear tenant” letter going out late January.,

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    I'm reasonably upbeat about 2024. I have a waiting list for my properties and rents are rising. I'm putting them up again in 2024. My income is higher now than at any time in the past 35 years as a landlord. For years my bank kept trying to lend me money, I must have been offered £millions on interest only BTL. I always said no, financed my acquisitions from earnings and if I needed money i always went repayment not interest only. Do now I'm debt free and mortgage rates are irrelevant. My portfolio is quite modest, but it's all mine and makes me a comfortable living.


    Me too Stephen, 2024 is going to be better for me after my problems of 2023, however with a labour government at some point in 2024 we might be eating our words


    Yes Andrew, that is the 'elephant in the room'.
    You wouldn't want a Labour government in charge, if the one we have here in Wales is anything to go by.
    They are very anti-business and landlord and with Plaid Cymru in coalition, the lunatics are really running the asylum here.
    Their next raid is on Council Tax, as they are going to re-rate all domestic properties in 2024, with mine probably due to go up 2 or 3 bands with no improvement in services.
    The Tories have been woeful and no friend of us landlords, but a Labour government in Westminster will no doubt be a lot worse.
    Anyway, Happy New Year to you and all the contributors who post on this site. I am so glad I found you.


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