A nationwide survey conducted by Leaders Romans Group shows significant concerns over proposed rent controls, property taxes, and regulatory changes.
Controversially, LRG this week signed an open letter calling on the next government to re-introduce and pass the Renters Reform Bill as a matter of urgency after today’s election.
In its survey – from some 1,200 landlords and tenants across England and Wales – results indicated that 60% of landlords are particularly worried about potential increases in property taxes, which they believe could lead to higher rental prices. Additionally, 45% of respondents expressed concerns about the introduction of new regulatory measures that could complicate the rental process.
The survey also asked respondents to identify the three biggest causes of the current challenges in the private rental sector. These were:
– Inflation and the cost of living: this was identified as a major concern by 55% of landlords and 78% of tenants. The rising cost of living is putting pressure on both landlords and tenants, making it harder to maintain affordable rental prices;
– High rents: high rents were highlighted by 17% of landlords and 88% of tenants;
– Lack of social housing: this was noted by 41% of landlords and 32% of tenants. The shortage of social housing is pushing more people into the private rental sector, increasing demand and driving up prices.
The survey also explored potential solutions to reduce evictions. Getting the cost of living under control was deemed most important by 34% of landlords and 58% of tenants. Additionally, 39% of landlords suggested cutting taxation on landlords as a viable solution.
Allison Thompson, national lettings managing director at LRG, comments: “This survey highlights the critical concerns faced by both landlords and tenants in today’s volatile market. The start of a new parliamentary term presents a pivotal moment for the party in power to address these issues with balanced and thoughtful policies. It’s essential that we create a fair and sustainable rental environment that supports both landlords’ ability to invest and maintain properties and tenants’ access to affordable housing.”
To access the full survey report click here.
