How Are Landlords Feeling?
It is fair to say the past few years have been extremely challenging for landlords, with many big issues affecting the rental sector.
At The Letting Line, we work closely with landlords, and we aim to help you provide the best standard of service to tenants. While the impact of the pandemic has been huge, we also know how many landlords have concerns about the impact of Brexit.
Of course, with so many external factors affecting the sector right now, it is not possible to say with clarity which issue affects landlords the most. However, a recent poll carried out in the lettings sector suggests many landlords aren’t looking to blame Brexit for their current struggles.
What affects you and your ability to work as a landlord?
The survey spoke to 500 landlords, and the following findings have been found:
80% of respondents say that Brexit has been a good thing or hasn’t changed the state of play
56% of respondents say they have stuck with their vote from the 2016 referendum
32% said they would change their vote if they could
The findings suggest the average rental income per property is £20,000
14% of landlords bring in £35,000 per year per property
While the findings suggest many landlords don’t believe Brexit has been too damaging towards them, the issue of one third of landlords saying they would change their vote if they could, is of interest.
Whatever issue or issues you are dealing with right now, contact The Letting Line, and we will be more than happy to assist you.
Do you need assistance with any matter?
Hope McKendrick, head of lettings at Intus Lettings, said: “Brexit cast a long shadow over the last few years and plenty of people were concerned about how it would impact the property market. It’s incredibly encouraging to see so many landlords say that Brexit hasn’t had a negative impact on the market, and that’s reflected in the high demand for property sales and purchases we’re seeing across the country. The outlook for the next year is also solid. A quarter of those we spoke to said they were very confident about the buy-to-let market outlook in the next 12 months — and a future 41% were somewhat confident.”
Hope concludes: “Our research found that landlords own, on average, 2.1 properties each, and 63 per cent say they’re planning to buy another property within the next five years.
“This is really good news for the rental sector; it shows that landlords are feeling confident about the state of the market. For tenants, it means that there will be plenty of housing options available so they can find their perfect home.”
If you are looking for guidance or assistance in the Enfield rental market, we can help. At The Letting Line, we are a specialist letting and property management agent serving Enfield, Barnet, Potters Bar, Brookmans Park and surrounding areas.
We can arrange a free valuation for you, and if you are looking to contact us, please call us on 020 8342 1234.