30^th Aug 2019

A trade body's latest research has found that just 29% of landlords are confident in their business expectancy for the next three months, as being very good or good.

This is the lowest level since the survey was first started in Q4 of 2016 which reported that confidence levels were shot to pieces in the latter half of the year, because of Osborne's first tax assault on landlords.

However landlords' confidence levels have remained stable at above 35% but with the government's announcement of its intention to abolish Section 21, landlords' confidence has been considerably dampened.

The East Midlands, Yorkshire and Humberside have the highest confidence levels of 34%, whereas the lowest are in the North East with 18% and Central London at 19%.

A spokesperson for the trade body, said: “With the amount of change that has occurred over the last four years and now the proposal to abolish no-fault evictions without any certainty that the courts will be able to cope with the increase in cases this will create, it’s no wonder that landlords are pessimistic about their future.

Landlords need to be confident in their own businesses for the private rented sector to function properly. Given that it’s expected to compensate for the lack of social housing, it is vital that this confidence is restored.”

Rosy Hopkins is one of many landlords who are thinking about selling up: “We are currently experiencing difficulties with a hostile tenant, who regularly calls us at silly hours, swears at us, and generally swears at and is abusive towards other tenants. We are again issuing a Section 21 to evict him. Without recourse to Section 21 we would undoubtedly have lost several decent tenants and would be stuck. I appreciate they are in contravention of their leases, but also understand how difficult it could be to prove that.

"We are actively considering selling our properties, which is no doubt what the government is trying to achieve. After the new tax burdens, which may well cripple us, and steal our hard-earned retirement income, and all the new/threatened legislation, we have just about had enough.”



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