More landlords are worried that tenants might request to keep a pet after the introduction of the Renters (Reform) Bill rather than the abolition of Section 21, research from Leaders Romans Group (LRG) reveals.
Over half (56%) of landlords said that the change regarding pets would be negative while 54% said that the abolition of Section 21 would have a negative impact.
Six out of 10 landlords (62%) surveyed by LRG said they intend to maintain or increase their portfolio over the next year despite the pending impact of the Renters (Reform) Bill with just over half (55%) saying that they didn’t plan to change their investment strategy.
Most landlords explained that their approach to property investment was long-term and that they would not rush to leave the private rented sector.
POSITIVES
Landlords did see some positives in the draft legislation with six out of 10 (63%) saying that easier repossession if a tenant is at fault was welcome and just over half (52%) supporting the introduction of an ombudsman.
SUBSTANTIAL CHANGES
Allison Thompson, Leaders Romans GroupAllison Thompson, LRG National Lettings Managing Director, says: “Although there are some substantial changes in the private rented sector, both political and financial, the so-called ‘landlord exodus’ is being overstated.
“Yes, there are some significant issues with the Renters (Reform) Bill but LRG and others have been actively involved in shaping this legislation so that it is fairer on landlords – who after all, are the mainstay of the property industry and depended upon by Government to provide homes to some of those most in need.”
She adds: “As local authority housing waiting lists continue to increase, I hope that Government will reflect on landlords’ vital role and take their views into account as the legislation passes through Parliament.”
LRG, which includes the brands Acorn, Gibbs Gillespie, Hose Rhodes Dickson, John Payne, Langford Russell, Leaders, Northfields, Portico, Romans and Scott Fraser carried out the research among 630 landlords in March 2024.
