Articles by Nick Clay
Landlord Confidence Index (LCI) No.17: 2023 Q1
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.
It’s personal – why tenants still love you
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.
Yet another problem! The PRS confronts inflation and interest rates
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 Index (LCI) No.16: 2022 Q4
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.
Independent landlords under threat from renters’ reform: Fall out could push up rental costs
This report sets out landlord responses to the recently published White Paper - A Fairer Private Rented Sector.Over 3,000 landlords who rent property in England took part in the consultation. Landlords feel the proposals in the White Paper threaten the supply of housing in the PRS.Landlords will either exit/reduce holdings in the residential market. The changes also make the short term and holiday market more attractive: The consequences for private renters could be profound.
In Focus (2022, Qtr 3): Economic Influences and LGBTQ+ issues
The Quarter 3 consultation examines the impact that rising interest rates and inflation is having on landlords and the PRS. The report looks at landlords and LGBTQ+ tenants. It identifies some key issues, and a potential role for the NRLA in supporting landlords whose tenants are victims of hate crimes.
Landlord Confidence Index (LCI) No.15: 2022 Q3
Quarter 3 is the quarter in which landlord confidence collapsed. This follows a two-quarter period in which confidence dipped from highs. Rising tenant demand has done little to raise landlord morale. Rising interest rates, rising inflation and rising concerns about forthcoming legislation are all combining. The result is a rising proportion of landlords selling properties, reducing supply.
Landlord Confidence Index (LCI) No.14: 2022 Q2
Quarter 2 has seen a continuation in the confidence dip which began in the previous quarter. Perceived demand has moved to record levels. However the proportion of landlords looking to sell has risen for the third consecutive quarter. Increasing costs and regulation are all factors which are contributing to the decision to sell. In the last twelve months 54% of landlords froze rents. Twelve months ago, the equivalent statistic was 73%.
Tenant Survey pt.2: Energy bills and efficiency
This is the second and final post on the recent Tenant Survey from the summer of 2022. This post reports on the impact of rising utility bills on tenants. For those tenants who have reached out to their landlord, a positive response has often been typical. It is going to be a difficult winter. Landlords and tenants should discuss forthcoming bill hikes and be fully aware of how the winter may play out.
Don't worry - tenants love you!
This is the first of two blog posts reporting on a survey of tenants conducted in August 2022. It reveals strong landlord tenant relations - tenants are very happy with their landlord and standard of their rented property. It also found that changing property needs and lack of choice is contributing to a supply issue in the PRS. Tenants are having increasing difficulty securing a property they want.