Survey suggests landlords in the UK are confused over new letting rules

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25th June 2019 15:49 - Housing

Survey suggests landlords in the UK are confused over new letting rules: A survey of 400 UK landlords has revealed that despite legislation to reform the letting market being introduced, many have a lack of understanding around some of the details - or are completely in the dark. 

The poll, commissioned by Market Financial Solutions, found that three in ten (30%) landlords did not understand changes in House and Multiple Occupation (HMO) licencing, reforms that were brought in last year in October. In addition, the abolition of Section 21 (a move to prevent the unfair eviction of tenants), was news to 28% of landlords, who said they were not aware of the changes.  

More than a quarter (27%) revealed that they were not clear about the ban on tenant fees, while almost a fifth (19%) said that while they understand the reform, they are not clear about how it might affect them. 

Feelings of confusion also surrounded inheritance tax issues, with 28% revealing they did not understand how the reform has changed the tax-free allowance on homes and properties being passed down. In April this year there were further reforms associated with tax relief on mortgage payments, which a quarter (25%) admitted they did not know about. 

The survey also showed that far more people are against the banning of letting fees (44%) than those who support it (44%). Similarly, opposition for the abolition of Section 21 has more in opposition (37%) that it does in support (16%).

When it came to buy-to-let mortgage relief  48% said they were against changes, with just 16% in favour.   

Paresh Raja, CEO of MFS said: “The legislation and regulation governing the UK’s rental market is constantly evolving, and today’s research clearly shows that landlords are struggling to keep pace with the change."

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