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, possible 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, mentioned: “These findings present a transparent tipping level for landlords as confidence in profitability drops however prices maintain rising. Many landlords are scaling again or leaving the market fully.
“It’s essential to acknowledge that new and altering regulation is their primary concern, and that help and steering is on the market.
“Some necessary adjustments, corresponding to Making Tax Digital, don’t must be a burden. With round 10 months to go, making ready for it early by getting snug with digital reporting forward of time will assist landlords to scale back stress and keep compliant. It needs to be a key consideration for any property professionals fascinated about their subsequent steps.”
Landlords have seen blended outcomes on rental income prior to now 12 months. Round a 3rd (32%) have seen rental income enhance, however 34% have seen a lower. One other 34% reported that rental income had stayed the identical.
Solely 7% of landlords mentioned they have been planning to buy extra properties and broaden their portfolio within the subsequent yr.
