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Greater than two in 5 (44%) landlords say they’ve supported tenants financially prior to now 12 months, resembling by decreasing or pausing hire, a survey has discovered.
Almost three-quarters (74%) of landlords mentioned they really feel a duty to assist their tenants throughout instances of economic hardship, in accordance with the analysis from The Landlord Works, which helps landlords to handle their property portfolios.
Almost half (45%) of landlords mentioned any hire discount would hurt them financially.
Round 4 in 10 (38%) mentioned they intend to maintain rents the identical for the subsequent 12 months regardless of the monetary challenges, however greater than half (55%) mentioned they might want to enhance rents over the subsequent 12 months.
One in 4 (25%) landlords plan to extend rents on all their properties.
Landlords utilizing their rental properties to offset their mortgage prices are notably prone to be planning to boost rents, with almost two-thirds (63%) planning a rise.
Greater than half (57%) of landlords are involved about whether or not their tenants can keep their rental funds, with multiple in 10 (13%) saying they’re very involved, the survey of greater than 700 landlords throughout the UK discovered.
Paul Wootton, director of The Landlord Works, which is companion model to The Mortgage Works, Nationwide Constructing Society’s buy-to-let lender, mentioned: “Landlords are going through an actual dilemma in the mean time in coping with the continued rising value of dwelling.
“On the one hand, there’s a want to make sure they will cowl the rising prices related to their properties and guarantee they’re following the market. Nonetheless, as our analysis demonstrates, they’re additionally conscious about the monetary challenges going through their tenants.
“It’s nice to see such a excessive proportion of landlords really feel a way of duty in direction of supporting these tenants throughout these difficult instances.
“And in loads of circumstances, this sentiment has been met by monetary help for his or her tenants over the past 12 months.
“Whereas we’ll see rents rise over the approaching months in lots of circumstances, we are able to additionally anticipate landlords to supply continued help at what’s a troublesome time for a lot of.”
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