The market research agency has released the latest findings from its Landlords Panel, surveying the opinions, attitudes and expectations of British landlords on a quarterly basis.
The responses recorded the lowest level of optimism about the UK’s private rental sector since the survey began in October 2006 with only 41% of landlords expressing optimism about the property sector.
The research highlights some of the reasons underlying their pessimism:
• 51% of landlords had experienced ‘void’ time when their property didn’t generate rent
• As a result of these voids, 17% had missed a mortgage payment in the last 12 months – up from 9% in Q4 2007 and the highest level since the research began
• Rental profitability levels were at their lowest recorded levels
• Over half of landlords had experienced problems with their tenants, with the main issue being damage to their property
However, the research shows that for some landlords the fall in house prices and the credit crunch are an opportunity to grow their portfolios and increase rents. 6% of landlords have already bought a repossessed property and a further 65% are interested in buying one.
