Welcome to “Landlords’ Barometer #43” … an insight into what is on landlords’ minds from the Property Tribes community!
One in four landlords to exit because of Section 24
Research from the Residential Landlords Association suggests that a quarter of landlords are considering leaving the sector due to the impact of “Osborne-itis” which includes hammering landlords via Section 24.
Tenant viewpoint: What makes a good landlord?
A bit of a ‘first’ for Property Tribes as Upad take over our TV camera and find out from tenants what they look for in a good landlord!
Seven things landlords can do while interest rates are low
Landlords should take this window of opportunity to future-proof their business against looming threats.
Attacks on Section 21 coming thick and fast!
Section 21 is under attack from various quarters, but it’s a vital tool for landlords.
Buy to let to become “buy to regret”?
New research suggests that it’s going to become increasingly challenging for landlords to make the numbers stack up.
People lose their underwear in property investment
Newbies to the property arena are often seduced by marketing hype of “get rich quick” through BTL. A range of gurus, mentors and schemes make big claims that can result in people losing life-changing amounts of money.
I always advise newbies to speak to a lettings agent about finding suitable investment opportunities – many agents knowing of landlords who are selling tenanted properties.
Events News:
The NALS Annual Conference 2016 – London – November 30.
The NALS Annual Conference is one of the most prestigious events in the lettings calendar. With a raft of top speakers, including a keynote by google, you are assured of a valuable day of education and quality networking.
Property Tribes has a competition to win a pair of tickets to the NALS Annual Conference in London. Just enter your name into our free draw!
Thank you for reading my column and I hope you find these insights useful to your business and decisions that you make where landlords are involved.
While that idiot Osborne was still chancellor I wrote this in my blog – a humorous take on the bleak future for small residential buy-to-let landlords…http://www.landlordsandletting.co.uk/Blog/government-plans-for-future-buy-to-let-landlord-laws/
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“One in four landlords considering quitting the sector”.
Can also be read as “Three in four landlords not considering quitting the sector, and of the one in four who ARE considering it, most of them probably won’t.”
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Thanks for commenting.
If you read the actual thread, I have posted several screenshots from Facebook property groups and other forums of landlords who are in the process of selling up.
One of them is Angela Bryant, who is in the process of selling about 30 properties.
Bear in mind that the awareness of S24 amongst the wider landlord community is very minimal. It is mainly portfolio landlords who are aware of it at the moment, not smaller landlords.
The impact of S24 on the private rented sector will be absolutely devastating in my opinion. As awareness increases, more and more landlords will exit.
This is just the start.
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I did read it, and I think the lack of knowledge points to one obvious conclusion – that many landlords aren’t invested in the legal aspect of the private rented sector. Savvy landlords will be aware of what’s happening, but it is the accidental and small-time landlords who will be hit hardest. They will be most at risk and I think the most likely result of them selling will be for local, big time landlords to buy the property with cash (or a much smaller mortgage).
I also agree this is just the start, but a handful of landlords on Facebook isn’t a comprehensive enough sample for us to assume that a stampede out of the PRS is going to occur. The fearful will run, as will the cash-poor, while the ‘landlord for my 9-5 job’ demographic will make some alterations and carry on – hence my initial comment.
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Only time will tell. 🙂
The Autumn Statement 2016 this week may show some softening of attacks on landlords, so I am waiting until then before deciding what course of action to take, although I have already sold one property because of S24, which was actually sold to another investor!
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Ha! Then I rest my case! 🙂
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