A new survey reveals what it calls “the deep-rooted concerns” of landlords with inflation and the Cost of Living Crisis coming out on top.
Conducted by property finance broker Finbri the survey shows 85% of landlords have expressed concerns over rising inflation, while 77% are wary over the more general cost of living crisis.
Energy price worries affect 74% of landlords.
They are also anxious over mortgage costs - an issue for 69% - while just three per c et are optimistic about the economy.
Some 60% are pessimistic about the property market’s overall direction.
And 43% of respondents didn’t increase their rents in 2023, despite one in four having non-payment issues, with a high 93% of landlords happy with their tenants.
A Finbri spokesperson says: “Our survey reflects the growing tension and anxiety amongst landlords and property owners as they grapple with the financial crisis and a property market that is teetering on the edge.
"However, despite the challenges landlords are currently facing, there is a clear trend towards fostering positive, long-term relationships with tenants despite this.”
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I am lucky in a way that I’m of the age I am , ready to retire and sell up. Although the costs mentioned here have not affected me. 💵🏃♂️💵🏃♂️
I am one of the very lucky ones I am retired and don't rely on the income from my property I bought it over 20 years ago and so have enough equity not to have to overworry about remortgaging in a few years time if I decide to I am genuinely sorry about those of us which aren't in such a good position because of the potentional impact of the Renters Reform Bill
Nothing to do with costs for me apart from getting ripped off with tax etc. I'm more pi**ed off with losing control of my properties. Eviction bans etc, restrictions on rent increases. I'm on my 3rd application in over a year to evict tenants from a certain property so that I can sell it here in Scotland. If I don't have total control of my hard earned investments then it's not a business I wish to invest in or remain in. I'm out! (Just as soon as they let me).
Losing control of my properties is why I am selling up. Also the fear of sitting tenants for life and only being able to sell the property at half its value. This was how it was before Section 21 was introduced. The sitting tenants will probably sublet as well.
And when sublet or over crowded the council will want to fine you and not the tenants.
Shane
I know an 81 year old who has been rejected twice when trying to evict rogue tenants so he could sell up.
He eventually succeeded on his third attempt but only with the help of his GP confirming the adverse effect on his mental health.
Suggestions at the earlier tribunals included selling with the tenants still in and getting family members or a letting agent to take over to reduce his "stress" levels!
Robert - the aging landlord of 81 should have stated he needed to sell his property for his future nursing home care. The state usually orders homeowners to fund their own care home costs by selling their house.
Shane, as soon as they let you, you hit the nail on the head there.
Maybe now is the time, the plan is to lock us in for ever all those people telling us what they will allow as if it’s their property.
Simon the costs affect everyone whether directly or indirectly.
Yes, I can see that now, what a mess we are in 🫣
THE biggest headache is interfering Government; eroding PRIVATE PROPERTY rights!
As a huge demographic of landlords are at or close to retirement over the next 3to5 years you will see a massive sell off of PRS properties and hardly any new investors fill the gap.
Plus many of those retiring landlords will take their money abroad when they do so. I know l will.
Quite right Sarah, moved abroad a few years ago and seriously considering investing in the UAE. the rents are regulated and go up every year. The rights of both landlords and tenants are excellent and everyone knows exactly where they stand.
I am no way on earth coming back to work in the UK while this current direction of travel is being pursued. Yes I contribute to my stamp but unfortunately once I retire my pension will be spent out of the UK and depending on what I do with my properties that money will also be spent out of the UK.
Honestly if you have nothing here you are sent back, no arguing or messing about. It is very clear contribute to the economy or bug*er off... UK Plc could learn a lesson on how to manage a country from the UAE.
Yes the Arabs have got it right. It's why so many travel here to treasure island to live here in 4 star hotels, free medical and other allowances and the right to protest in our streets.
Since retiring a few years ago, I have actually found it much easier to be a landlord than it was when I was working long hours running a struggling business.
I now also manage the portfolios of my grown-up up children and management fees, formerly paid to agents, now find their way into grandkids' growing bank accounts - after tax, which can be well over 60% in Scotland, although my kids save as much or more tax than I pay on what I charge them.
I would advise those retiring soon to wait and see how being a landlord in retirement suits them.
At the moment Landlords are allowed to sell up but this won’t last. The only way a landlord will be able to sell in the future is to sell the property with sitting tenants with the property’s value reduced by half. Absolutely terrifying but I am sure that is going to happen when Labour get elected. They are being suspiciously quiet about their housing policy.
Do you think as a landlord if I claim anxiety and depression I can get out of being a landlord, move into 4 and 5 star hotels at full board and not bother working anymore? Or do I need to go to France, come back in a dingy, chuck my phone and all ID into the Channel and call myself Andrei, Avram, Bogdan or some other name and then be entitled to a life of luxury?
Good point
Nick
Better call yourself Hassan,Abdul,Ahmed,Mustafa.
With your chosen names you’ll just be deported back to Europe.
Well i don’t want to be a single white male. I’ll be right at the back of the queue despite years of paying £££££
All these increases in living costs (especially mortgages) are very worrying to most home owners, landlords and tenants alike. Those who don't have mortgages are probably still concerned about higher cost of utilities, food etc. All in all it's a total shambles, and more should have been done to run the economy in a better way to protect citizens.
Yes worried
Margaret, don’t be daft the good times are coming back.
The Tenants will be looking for £10/20 grand to move out of your property as before sorry I wasn’t born tomorrow.
I knew an Indian lady being hood winked by a man who became a sitting Tenant in her house even though she was living in the house herself with her daughter. He pretended he didn’t want to leave but actually he was going back to his own Country not far either and for good measure he moved in his useless Son before leaving and the landlady helped him to get his Son a Council Flat to get rid of him. Oh yes there’s a punch line he received her of £40’000.00 Allegedly to go.
Mr Michael Gove are you listening, give this While Paper the third reading you haven’t a Clue what you are doing.
Gove is an arrogant F***.
Look at M&S on Oxford St. he overruled the planners, council, Khan. Everyone. All to be woke and anti-carbon. Last week in the appeal the judge ruled he didn’t interpret the rules properly. I think said just because he didn’t like the scheme he can’t just over rule it. It not so many words….
That’s a true story not many responding to this reality. He lived up stairs with that mostly to himself of this 2 storey houses & there was a door an element of containment. Scared isn’t it £40k to get her Property Back. No choice Mr Ben Beadle are you reading you were instrumental in Removing Section 21 did you not know why it was introduced.
Anyway the House was worth £450/ 500k but to sell with him insitu its minus £200k.
They are either a few pence short of a shilling or just don't care about anybody other than themselves
We can see coming into law the obligation to sell with sitting tenants. And rent controls.. With fixed term tenancies ended, sitting tenants will have no reason not to apply to the rent property accessor on even below inflation increases.. So many tenants will appeal to rent accessors, they will be overwhelmed. As a result, rents will be standardised purely on property size (as is tye case with housing benefit /Universal Credit). Paying a standard rate on size has encouraged (a minority of) slum landlords who let to benefit claimants and then neglect their properties. That will now happen in the non benefit rent sector and we will all be labelled Rachmans.. Time to leave the PRS.
Correct Peter back to the Racham way, who's going to be spending money to repair or improve their properties, why would we with sitting tenants on benefits?
Because some numpty from Labour or the council will come down and tell you the tenant is ENTITLED to a palace all while on rent controls.
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