Articles by Nick Clay
After a run of increasing confidence, the Quarter 1 survey presented a picture of uncertainty. Not only has confidence dipped, but the proportion of landlords planning to sell has risen. Landlord costs and the regulatory framework are key reasons underpinning this loss of confidence. This survey was undertaken before the 2022 Queen's Speech and announcements of proposed reforms to the PRS.
This post takes a closer look at one of the key themes from In Focus. There is an increasing need for property adapted for tenants and their family members who have specific needs in order to lead independent lives. There is a generous grant for landlords to cover costs. Many local authorities are willing to help landlords. Yet few landlords have tenants who require adaptations. Why? This post explores some of the issues.
Over 1,000 landlords participated in this survey. The survey focused on accessibility. The analysis provides a landlord perspective on why there aren't more properties in the PRS for those who require specific adaptations to live independently. Clear market failure is identified. The research indicates how take up of opportunity could be increased through better partnership between landlord and local authority.
These are the slides from the NRLA's research webinar hosted in October 2021.
Topics covered in this webinar included the sustained increase in tenant demand and landlords' increasing levels of confidence.
Other topics covered include: Universal Credit; Energy Efficiency and tax issues. There is also a review of what rising inflation may mean for landlords.
In December 2021 YouGov undertook an online survey of landlords. The survey is not of NRLA members but of the wider private landlord community (about 10% of all those surveyed were NRLA members). The survey identifies how landlords have responded to the challenges of the last few years, and the confidence with which they are looking to the future.
The Quarter 4 survey shows confidence at record highs for the third consecutive quarter. Nationally the Confidence Index is broadly neutral. In the regions, only the North East went clearly against the trend of rising confidence. However the evidence suggests landlords are being prompted to reduce their holdings: fears of rising costs are overtaking increasing levels of demand in making decisions about rents and portfolios.
The Quarter 3 survey focuses on issues around taxation, mediation and potential policy innovations that could improve the private rented sector.
The study reports on sources of business advice, how landlords pay tax and their current readiness for Making Tax Digital.
The report also provides an overview of the NRLA's recent "Student Landlord" collaboration with the DfE.
The LSE report Private Landlords and Tax Changes reviews the treatment of landlords in the PRS here against their peers in other developed economies. The authors conclude the UK tax system is increasingly hostile to UK landlords. This is in contrast to tax systems in many other developed economies.
The NRLA commissioned the LSE to draw out the implications of recent tax changes and the Covid pandemic for the private rented sector.
The study also benchmarks the tax demands placed on landlords compared to their peers in other developed economies. Mainly as a result of changes since 2015, the authors conclude about the taxation system: "[It] now lies at the ungenerous end of the spectrum...of landlord tax regimes."
In November the NRLA surveyed over 2,000 tenants in the Private Rented Sector (PRS). This is the second survey of tenants undertaken in 2021.
The survey shows tenant debt has fallen as has the number of tenant households in debt.
The survey provides yet more evidence that landlords have been writing off tenant arrears accumulated since the onset of Covid-19.