Most portfolio landlords aren’t worried about the next government

Most portfolio landlords aren’t worried about the next government

0:04 AM, 19th June 2024, About 3 weeks ago 18

Text Size

UK landlords say they aren’t worried about the potential political change of government next month, and most will keep hold of their buy to let portfolios, research reveals.

The findings from Zero Deposit show that despite various legislative changes under the Conservative government, 82% of landlords have kept their buy to let portfolio unchanged.

Some of those changes include mortgage tax relief alterations and higher stamp duty on additional homes.

Also, the controversial Renters (Reform) Bill, which included the abolition of Section 21 ‘no-fault’ evictions, now hangs in limbo due to the upcoming General Election.

It might return under the Tories and Labour says it will revisit the Bill – researchers found that only 27% of landlords believe the bill will be scrapped.

Conservatives may have been the party of choice

The firm’s chief executive, Sam Reynolds, said: “Traditionally, the Conservatives may have been viewed as the party of choice for landlords, but we’ve seen a string of legislative changes in recent years that may suggest otherwise.

“Despite a squeeze on profitability, the majority of landlords have chosen to maintain the size of their portfolio and given the challenges already faced, it’s hardly surprising that they remain largely unfazed by a potential change of political party at the forthcoming election.”

He added: “The election itself has inadvertently shelved the implementation of the most significant rental sector changes in many years and while it remains to be seen just what will come of the Renters (Reform) Bill, most landlords will be understandably lacking confidence that either party will drive any real improvement in the sector.”

Landlords have been adding to their portfolios

While 6% of landlords have been adding to their portfolios, most landlords say they aren’t fazed about which party takes power.

If Labour wins, 78% intend to retain their portfolio’s current size.

And 19% say they would consider downsizing under Labour — twice the number who would do so under Conservative rule.

Of Labour’s policies for the private rented sector (PRS), landlords said the abolition of Section 21 was their biggest concern.

The automatic right for tenants to own pets and obligatory EPC improvements were also unpopular.

As were four month notice periods for the top five unpopular Labour ideas for landlords in the PRS.


Share This Article


Comments

JamesB

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

7:04 AM, 19th June 2024, About 3 weeks ago

"UK landlords say they aren’t worried about the potential political change of government next month"

LOL

Reluctant Landlord

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

8:43 AM, 19th June 2024, About 3 weeks ago

hahahahahaah! is it April 1st?????

Cider Drinker

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

8:54 AM, 19th June 2024, About 3 weeks ago

Not sure why four months notice periods get a mention. It already takes much longer than that to evict a non-paying tenant.
We shouldn’t be solely focussed on what landlords I tend to do (though 19% considering downsizing is a huge issue when the number of renters entering the U.K. just keeps rising). We should also focus on what the landlords’ children will do when they inherit BTL property; mine don’t want to be landlords so they will be selling at the first opportunity. In preparation, I’ll sell when tenants move out.
When Labour are in No 10, rents will rise. Mine increased by 15% this year, in readiness for Labour. They’ll rise again next year, probably by 10%.

Stella

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

9:06 AM, 19th June 2024, About 3 weeks ago

What Planet does this guy live on!

Cider Drinker

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

9:19 AM, 19th June 2024, About 3 weeks ago

Reply to the comment left by Stella at 19/06/2024 - 09:06
He’s from planet ‘Vested Interest’.

northern landlord

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

10:57 AM, 19th June 2024, About 3 weeks ago

So Landlords aren’t selling up, there are plenty of properties available at cheap rents in the PRS and as a result the deposit business is booming. Good to know.

Dylan Morris

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

12:37 PM, 19th June 2024, About 3 weeks ago

You can stick your Zero Deposit scheme where the sun don’t shine. Who wants to take on a tenant who’s so skint they haven’t even got the money for the deposit.

Michael Booth

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

17:13 PM, 19th June 2024, About 3 weeks ago

Who are you kidding left wing socialist in power ,you are seeing a wolf in sheep's clothing believe me.

havens havens

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

18:07 PM, 19th June 2024, About 3 weeks ago

UK landlords are staying calm despite the upcoming election, and I feel the same. Like 82% of landlords, I've kept my buy-to-let portfolio steady despite changes like mortgage tax relief cuts and higher stamp duty. The uncertainty around the Renters (Reform) Bill doesn't worry me much. Even if Labour wins, 78% of us plan to keep our portfolios. I'm ready to adapt, no matter which party takes power.

Stella

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

19:01 PM, 19th June 2024, About 3 weeks ago

Reply to the comment left by havens havens at 19/06/2024 - 18:07
It may not be that easy to adapt when the Government remove section 21

As sure as eggs is eggs we will not have a mandatory ground to repossess if we want to sell or move back in.

The Labour party will be a disaster for the PRS

1 2

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now