Tax changes prompt landlords exit and rents rising, says survey
One in six landlords is seeking to reduce the size of their portfolio in the next 12 months and around half of all buy to let owners believe the recent tax attack on the private rental sector is leading to a reduction in investors.
The survey, by intermediary operator The Mortgage Company, shows that 16 per cent of landlords looking to reduce the number of properties while 50 per cent agree that tax changes have reduced the number of private landlords.
Only one per cent think the recent tax and regulation changes have contributed to an increase in quality of rental property while 10 per cent now operate as a company rather than an individual – an advantage for landlords who pay tax.
One in eight landlords is seeking out specialist tax advice to help them manage their portfolios while four in 10 are using a specialist buy to let mortgage broker when organising their borrowing.
And 80 per cent of landlords agree there should be an accessible database of rogue tenants to help agents and other landlords.