Leading online letting agent Upad has released new research highlighting which market challenges are concerning landlords, but also that landlords are planning to be defiant in the face of these challenges.
A Upad survey of over 3,800 private landlords revealed that on-going tax changes are what they see as their biggest concern, with 59% admitting these changes were an issue for them.
Tax changes were easily the biggest concern shared among landlords, with 39% concerned about the impact of any new landlord regulations, 28% being concerned by both the buy-to-let mortgage market and interest rates, and Brexit being a worry for 26%.
Despite these concerns, a clear majority of 66% of landlords were planning on retaining their property portfolio and were committed to being a landlord, though a small number admitted they were considering switching to holiday lets or restructuring their buy-to-let business.
Commenting on these findings, Upad founder James Davis, himself a portfolio landlord, said, “Although landlords continue to face challenging market conditions and pressures from a variety of factors, it is notable that almost 7 in 10 of them are saying they're resolved to continuing with their buy-to-lets come what may.
“While this is great for landlords and indeed the private rental market in general, it's pretty clear that the reason the market remains sustainable for landlords is due to many costs being passed onto tenants.
“To that end, sooner or later the UK Government will have to take action to ensure private landlords, who let's be honest are a hugely important part of the UK rental market in general, are able to run a buy-to-let business without it leaving tenants further out of pocket."