Landlords reveal likes and dislikes about the PRS

A massive 72% of landlords believe the private rented sector is fit for purpose, according to a new survey.

The findings from the Property Redress Scheme reveal that the main reasons for their satisfaction was that the private rented sector (PRS) provides a regular income, and the current regulations offer landlords protection.

However, of the 27.8% that feel it is not fit for purpose, their main reasons are believing the government is biased in favour of tenants. Other reasons include believing there is too much regulation of the PRS leading to greatly increasing costs for landlords.

Landlords feel that current PRS legislation is too complex

In the survey of 3,000 landlords, the three biggest challenges include legislation (38.7%), rent payment issues (21.5%) and property maintenance (13.8%).

According to the survey, 43.2% of landlords feel not very or not supported at all by the government and 40.5% feel quite or very supported. And 16.3% of landlords feel neither supported or unsupported by the government.

Nearly half (47.9%) of landlords feel that current PRS legislation is too complex.

Some landlords are unsure whether the current legislation helps or hinders them (16.5%). Meanwhile, 35.5% feel that legislation protects both tenant and landlord and ensures the property is in good condition.

Almost half of landlords disagree with the abolishing of Section 21

During last year, 44.4% of landlords feel very or quite positive about the industry changes in the PRS, whereas 33.2% feel very or quite negative about the changes.

Almost half of landlords (49.2%) surveyed disagree with the abolishment of Section 21 and 33.9% of landlords agree to the change. A small proportion were indifferent, neither agreeing nor disagreeing with the abolition (16.9%).

More than half of landlords let their properties to families (58.4%) and professionals (51%).

However, 38.6% of landlords said they are ‘indifferent’ to whether their tenant has a pet in their property.

Practically, an equal number of landlords are against (31.1%) tenants with pets in their property (30.4%). Of the landlords that were surveyed, 29% currently let their property to tenants with pets.

One landlord said in the survey: “There aren’t many landlords in the sector that allow pets which gives me a competitive edge when tenants are viewing my properties. As a pet lover myself this isn’t something I want to take away from my own tenants.”