Articles by Nick Clay
The NRLA conduct consultations not only with members but also the wider landlord community: It has been established by the NRLA in previous consultations that Section 21 reform would need to be alongside court reform for reform to work without disrupting the supply side of the private rental market. In Summer-Autumn 2023 landlords were asked if prioritising possession cases in the courts could provide that reform.
Over 1,100 landlords participated in this consultation which focused on the prospect of regulatory change. How proposals will change the PRS in respect of anti-social behavour in England and rent controls in Wales. In England landlords can largely live with Section 21 reform IF new mechanisms give landlords confidence to continue. In Wales, rent controls would almost certainly mean more tenants facing annual rent increases.
This new look In Focus reports on the views and experiences of over 1,200 landlords across England & Wales. The consultation reflects on landlord confidence as well as taking a closer look at Universal Credit. The consultation also sets out the latest insights on a range of other topics including Buy-to-Let finance and the difficulties being faced by HMO landlords. .
This post focuses on fixed-term BTL deals and how their impending expiry is driving landlord decision making. Fixed rate deals often have minimum rent conditions atached to them. These T&Cs further drive up rents in a local area. Landlords with BTL finance with fixed rate deals due to expire are more likely to be taking action to raise rents, and reduce supply.
Landlord confidence is now at record lows, even below the levels recorded in the early days of Covid-19. The trigger here is the Renters (Reform) Bill published during Spring 2023. Note we present a new scale for landlord confidence, the methodology is the same, and the data is consistent with previous surveys. Whichever scale is used, landlords in England (in Wales confidence increased marginally) have very low levels of confidence.
This consultation focuses on how landlords are responding to the current macro-economic malaise. The report contains an analysis of landlords buying, selling and adjusting rents. The results throw a new light on the motivations and behaviour of landlords - at odds with stereotypes and lazy assumptions often put forward. The results of this consultation challenges current policy thinking in the PRS.
Landlord confidence showed a modest improvement in the first quarter of 2023 in England. In Wales however confidence has continued to fall. Demand for rental property continues to be reported as high, but the proportion of landlords planning to sell continues to rise. Growing concerns about regulation change, coupled to macro-economic factors continue to drive landlord decision making. These negative factors outweigh tenant demand.
The spring 2023 tenant survey once again showed high levels of satisfaction with independent landlords. This post outlines some of the reasons why, despite a three-cornered attack on PRS landlords, tenants continue to appreciate the integrity, hard work and strong customer focus of independent landlords.
This post looks at the severity of the impact inflation and rising interest rates are having on landlords and the PRS. It identifies a tipping point for landlords at which their business becomes unsustainable. Inflation is placing an additional strain on all landlords - whether they have loan finance or not. Those that have loan finance are now facing the impact of earlier decisions to abolish MIR for landlords.
Landlord confidence has continued to fall. It is now back to levels seen at the outbreak of the Covid-19 pandemic. The proportion of landlords planning to sell property is now at record highs - whilst the proportion of landlords planning to buy is now at record lows. Yet demand remains high and landlords are turning property around quickly. Legislation in Wales and possible legislation in England is a key factor behind these confidence levels.