It might seem as though there has been little in the way of positive news for landlords, but there has been a lot to like about the rental market in recent times. There is no denying that there is growing demand for property in London, and this is the case for the rental market as well as the housing market.
You will also find other positive news for landlords. With the pandemic, it is natural that there were concerns about rent arrears. It appears as though these fears are diminishing, which can only be viewed as positive news for landlords.
If you are a Finchley landlord looking for support or assistance, contact David Harris & Co, and we will be more than happy to assist you.
Positivity abounds in London lettings market
A new survey of nearly 4,000 landlords from buy-to-let specialist, Sequre Property Investment, has revealed that nearly one in five (17%) have experienced rental arrears as a result of the pandemic.
Sequre Property Investment conducted a survey of close to 4,000 landlords, and the findings are of interest to landlords and property investors:
·14% of respondents experienced rental arrears because of the pandemic
· 27% of this group have suffered one month’s rental arrears
· 23% of this group have experienced between one- and two-months’ rental arrears
· 50% of these respondents have experienced rental arrears of at least two months
There is evidence which suggests the wave of pandemic rental arrears is dropping
· 36% of respondents say the level of rental arrears due to them has remained the same since the peak point of the pandemic
· 37% of respondents have experienced a fall in rental arrears
· 28% of respondents have witnessed an increase in rental arrears
We are here to support local landlords
Daniel Jackson, Sales Director at Sequre Property Investment, commented: “The pandemic has posed problematic for tenant and landlord alike but while the nation’s tenants have been afforded a great deal of government protection, little has been done to aid those landlords facing a backlog of unpaid rent. With the government all but blocking the ability to evict tenants who can’t pay, the only option on the table has been to sit tight and wait for this storm of rental arrears to blow over.”
Daniel Jackson continued by saying; “The good news is that many now seem to be weathering this storm and having shown faith in their tenants during hard times, the majority of landlords are now starting to have this faith repaid in the form of overdue rent. Of course, there are some tenants who are not yet out of the woods, as well as those who seek to take advantage of the system, but the rental market certainly seems to be rebounding in the right direction.”
Daniel Jackson concluded by saying; “Despite these tough times of late, as well as a string of legislative changes to buy-to-let profitability, the buy-to-let sector remains a lucrative business and continues to attract attention from the amateur landlord, right through to the institutional investor.”
If you have any questions about the housing market, or you need assistance, please contact David Harris & Co today. Call us on 0208 346 9122.
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