A trade body states that virtually two-thirds of landlords that took part in a survey have already resigned themselves to the distinct possibility that the pandemic will affect them significantly.

@leila_milaya via Twenty20

48% of the two thousand landlords that took part in the study said they expected to face a ‘slightly’ negative impact because of the pandemic; however 18% stated that the effect on their business will be very significant and harmful.

However the trade body says that 56% of its members are either more wary or less confident of being able to achieve their targets this year, compared to how they felt four months ago before Covid-19 reared its ugly head.

Nearly a third of respondents (30%) stated that they are going to sell one or more properties over the next twelve months, whilst 16% intend to purchase one or more properties.

The trade body claims that rental arrears may be as high as £437m.

A spokesperson for the trade body says: “Whilst the vast majority of landlords have been working constructively with their tenants where they have struggled due to the pandemic, it is not sustainable to expect them or tenants to continue having rent arrears building indefinitely. This is highlighted in the lower levels of confidence among landlords and the impact it is having on their businesses.

“Providing the financial support needed to help tenants pay off rent arrears built since lockdown started would cost the government less than the Eat Out to Help Out scheme. As we head into more local lockdowns, it is even more important that tenants don’t have to worry about meeting their rent bill.”