Almost half of landlords say they would forego the services of their letting agent if their profits began to fall, but a different picture emerges when faced with what type of service they would do themselves.

A poll of 900 landlords by the UK Association of Letting Agents (UKALA) found that 47% would forego the services of their letting agent if their profits began to fall as a result of the buy-to-let taxation changes.

Regionally, more landlords in Scotland (56%) would ditch their agent if their profits were compromised than anywhere else in the UK. However, just one in three landlords in the West Midlands would forego their agent – the lowest across the UK.

In central and outer London 47% and 52% respectively said they would lose their agent.

However, when landlords were later asked to describe what services they receive from agents and if they would forego it, the results suggest the job of the agent is pretty safe.

A quarter of landlords who use letting agents to exclusively fully manage all of their properties would cut them loose, while 41% would keep them on. Of those using an agent for a let-only basis, 30% said they would retain them and 21% said they would let them go if their profits were hit.

It is only those who occasionally use a lettings agent who appear to be most willing to drop them. Almost a quarter (23%) who occasionally use an agent for let-only said they would scrap them while 13% of those using them for full management said they would go without.

Richard Price, executive director of UKALA, said: “A significant number of landlords will be hit hard by the tax changes and agents’ fees will be one of the items underneath the magnifying glass if profits begin to decrease.

“As landlords’ costs inevitably rise, agents will need to do more to position themselves as indispensable and make it obvious that they provide solid value for money. Otherwise, as future tenancies come to an end, landlords will either shop around or start to consider self-managing their properties.”