Some 69% of landlords plan to promote not less than one property within the subsequent 12 months, analysis from GoSimpleTax has revealed.
The highest concern (43%) amongst traders is altering rules, probably referring to the Renters’ Rights Invoice and its abolition of Part 21 evictions.
Solely 10% of landlords are “very assured” within the profitability of their rental enterprise
Mike Parkes, technical director at GoSimpleTax, stated: “These findings present a transparent tipping level for landlords as confidence in profitability drops however prices hold rising. Many landlords are scaling again or leaving the market completely.
“It’s essential to acknowledge that new and altering regulation is their primary concern, and that assist and steerage is accessible.
“Some obligatory adjustments, comparable to Making Tax Digital, don’t need to be a burden. With round 10 months to go, getting ready for it early by getting snug with digital reporting forward of time will assist landlords to scale back stress and keep compliant. It must be a key consideration for any property professionals enthusiastic about their subsequent steps.”
Landlords have seen blended outcomes on rental earnings prior to now 12 months. Round a 3rd (32%) have seen rental earnings enhance, however 34% have seen a lower. One other 34% reported that rental earnings had stayed the identical.
Solely 7% of landlords stated they have been planning to buy further properties and broaden their portfolio within the subsequent yr.
