Most landlords want there to be less regulation in the private rental sector, with tenants feeling the opposite way.
Research from Market Financial Solutions has revealed 77% of tenants believe more needs to be done to control rental prices in the UK. In contrast 48% of landlords said they had to increase rents as a result of rising costs.
The survey, commissioned in November last year, sought the views of 2,000 tenants and landlords.
Its report, Exploring the Landlord-Tenant Relationship, found almost half of tenants said they were worried about being able to pay rent this year and 78% said they should be able to claim back rent from landlords if they are made to live in poor quality accommodation.
Meanwhile, 74% said more needs to be done to improve the standard of rental properties and two thirds (69%) said there should be more multi-year/long-term lets in the rental market.
Landlords had a different take on the situation with 63% believing the government has introduced too much regulation in the private rental sector and 40% saying the ban on no-fault evictions (Section 21) has left them with tenants whom they want to move out of their property(s) but cannot. Almost two thirds (65%) said the government has unfairly penalised and targeted landlords with different reforms over the past decade.
In terms of rents, 52% of landlords said they had increased rents in 2022 with 48% blaming rising interest rates and mortgage repayments.
Despite this, the research showed over half of landlords surveyed (56%) said they would allow flexibility on rental payments if a tenant was struggling financially. A third (35%) went further opting to freeze payments due to the cost of living crisis.
The overwhelming view of tenants surveyed (77%) though is more needs to be done to control rental prices in the UK and 73% believe more regulations are needed to protect them. In addition, 74% want more to be done to improve the standard of properties.
Sheldon Bosley Knight business development manager, Nik Kyriacou said: “Everyone wants to see a thriving private rental sector in which landlords and tenants are treated fairly and equally.
“Likewise we all want to be rid of the rogue landlord elements but in our experience the vast majority of landlords are decent, compassionate and fair. They want to be able to provide decent homes for good tenants.
“If rent controls come in there will be a surge of landlords leaving the private rented sector, which will present a far larger problem than increased rents.
“A sudden and vast reduction in rental properties, coupled with increased hurdles in purchasing – ie increased mortgage rates – can lead to devastating consequences. The government needs to look at the bigger picture.
“As ever if you are a landlord or a tenant looking for advice on any aspect of your rental, please pop into one of our offices today to see how we can help you.”