Attitudes towards being a landlord in the current economic and political climate remain optimistic, according to recent research from Your Move.
Its ‘Landlord Sentiment Survey 2018’ found that 52% of landlords feel positive about the market, compared to only 16% that felt negative. An additional 30% of those surveyed felt indifferent.
This confident outlook comes despite the influx of regulatory changes over the past few years, including the scrapping of the wear and tear allowance, the additional stamp duty surcharge on second properties and stricter portfolio lending introduced last year.
The survey – which gathered opinions from nearly 1,100 landlords in June – also found that the two most important considerations to landlords are ongoing maintenance and upkeep costs (83%) and the potential to make long-term profit (80%). The tenant fee ban (43%) and the potential impact of Brexit (32%) were the least important factors.
However, these concerns haven’t disheartened landlords, as they are deciding to hold out and think about the long-term when it comes to their investment. Nearly two thirds of landlords (64%) surveyed revealed they are unlikely to sell a property in the next year.
“Given the number of regulatory and tax changes in the buy-to-let market over the last few years, it wouldn’t be surprising if landlords felt some trepidation about the future,” Martyn Alderton, national lettings director at Your Move and Reeds Rain, said. “However, it’s great to see that the landlords we surveyed do, for the most part, remain positive about the future.”
He added: “Our research shows the majority of landlords are in it for the long term and that’s important for the well-being of the private rented sector, providing much needed homes for those who cannot yet afford, or do not wish to purchase due to lifestyle choices.”