ARLA confirms landlords ‘rough ride’ is being passed on to tenants

by Property 118

14:18 PM, 26th September 2017
About A year ago

ARLA confirms landlords ‘rough ride’ is being passed on to tenants

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ARLA confirms landlords ‘rough ride’ is being passed on to tenants

The Latest figures from the ARLA Propertymark report shows that in August agents reported 35% of landlords increasing rental costs to tenants. This figure has risen from 27% last year and is the highest figure since July 2015 at 37%.

This compares to only 2% of tenants who were able to achieve a rent reduction.

Demand from new tenants looking to rent per ARLA member letting agents increased to 72 per branch and the average number of properties landlords were looking to sell per branch was 3 out of an average 189 properties per branch.

ARLA Propertymark chief executive, David Cox, said: “This month’s findings paint another bleak picture for tenants. In November last year, only 16% of agents saw landlords increasing rent costs, but that figure now stands at 35%, which is likely to continue rising.

“Landlords have had a rough ride at the hands of policy changes at government level, and it’s becoming clear that these additional costs are now being passed onto tenants.”

Please see the graph below and for the full ARLA report please Click Here

 



Comments

Gromit

7:03 AM, 27th September 2017
About A year ago

Tenants can thank George Osborne for this, and this just the beginning.

There's going to annual rises for the next 4 years as Sec.24 is phased in.

Paul Kaye

12:49 PM, 27th September 2017
About A year ago

The government are treating "good" Landlords like criminals.
Landlords invested in property to let out to "good" tenants and run a business.
Excluding Landlords from hell (that should be put out of business)good Landlords should be treated with more respect and not taxed out of the business.Landlords have housed millions,providing good quality housing,paying their taxes,complying with all regulations,yet this government allows total abuse towards landlords from bad tenants and is now abusing landlords themselves.
It can not go on like this they need to treat BTL as a business with all the allowances ALL businesses receive.
Also well over due is quicker,low cost evictions for problem tenants.Why on earth does it take so long and cost so much to evict these bad apples?
Once a court order is obtained and tenants ordered to leave(by law)they should be classed as squatters and the police called(not the Landlord suffering more costs to evict)I invested in BTL as my choice,not had a holiday for over 40 years!
I chose to save and invest for my children and family,so why am I treated like a criminal!?
Bank robbers are treated better! and fiddle my expenses MP,s !!!!!!!!!!!!!!!!!!!!!
Time for big changes,wake up government!

Dr Rosalind Beck

13:56 PM, 27th September 2017
About A year ago

It would be interesting to know what rent increases landlords have so far implemented as this is not in the research above. To begin the sharing of info, I can say that between 2015 and 2017 I have managed to increase my rents by 13% - something which I would not have done were it not for Section 24. This coming April will see me implementing further rises and also in July for the student lets. I'm not sure yet what the market will take, but it will definitely be another few percent, with the total increase probably exceeding 20% by 2019. This will cover a lot of the increased tax liability I was facing, but is obviously terrible news for tenants and putative first time buyers - although the vast majority of my tenants are not in the latter category. I would be interested in knowing the specific percentage increases other landlords have implemented.

David Price

14:07 PM, 27th September 2017
About A year ago

Reply to the comment left by Barry Fitzpatrick at 27/09/2017 - 07:03
Please Barry do not be too hard on George for this, he did not have the intellect to foresee the problems.

Be a Landlord

14:15 PM, 1st October 2017
About A year ago

Just sold one of my 3 BTLs. Phew that's one less liability now that government has declared war on private BTL landlords. Unfortunately that is one less property to add to the tenant pool. For those interested sold to a divorcee. So no it hasn't increased supply for any first time buyer either

Alan Loughlin

16:42 PM, 1st October 2017
About A year ago

Had 9 properties 4 years ago, now 3, will be 2 this week. Get my drift?
Of the now 2 remaining put up rent last month on one from 925 to 975 pcm ang the other is due next month. It will be raised for sure.

Be a Landlord

16:48 PM, 1st October 2017
About A year ago

I have a standard search set up around my flat in SE16. Last year there was a steady 230 2 beds for rent at any time. 132 This week. Rents must surely start to rise with this drop in supply.

DanielLatto

21:29 PM, 8th October 2017
About A year ago

We keep on telling the government whats going on - but it falls on death ears.

They obviously know better with all that experience of the housing market they must have.

Unfortunately, the losers here will be the tenants again.

Daniel Latto


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