New research among landlords reveals that although a majority are adopting a ‘wait and see’ approach to the Tories' looming renting reforms, it’s the changes to pets rules and evictions that are troubling them the most.

The Bill, which is due to get its latest airing in parliament this month as it trundles towards becoming law, will give tenants greater rights to rent a property with a pet, and abolish Section 21 evictions which many landlords regard as the fastest way to eject renters with rent arrears.

Conducted by estate agency firm Leaders Romans Group, the poll of 630 landlords found that nearly two thirds were still positive about the rental market and were intending to keep or increase their portfolios.

Asked whether the Bill influenced their investment decisions, 55% said that they did not plan to change their approach to property investment as a result.

Many explained that their approach to property investment was long-term and that they would not rush to leave the private rented sector.

Downside

Also, quizzed about whether the proposed change regarding pets was positive or negative for landlords, 56% said that the impact would be negative. In comparison, 54% said that the abolition of Section 21 would have a downside.

Landlords saw some positives in the draft legislation: 63% said that easier repossession if a tenant is at fault was welcome and 52% supported the introduction of an ombudsman.

Rather than being significantly worried about the imminent legislation, landlords’ concerns are mostly financial, relating to high mortgage rates, the cost of bureaucracy and regulations, increased taxes, the cost of overheads such as service charges and maintenance costs, and VAT on contractors’ fees.

“Although there are some substantial changes in the private rented sector, both political and financial, the so-called ‘landlord exodus’ is being overstated – as this research demonstrates,” says Allison Thompson (pictured) National Lettings Managing Director of Leaders Romans Group.

“Yes, there are some significant issues with the Renters (Reform) Bill but LRG and others have been actively involved in shaping this legislation so that it is fairer on landlords – who after all, are the mainstay of the property industry and depended upon by Government to provide homes to some of those most in need.”

LRG includes the brands Acorn, Gibbs Gillespie, Hose Rhodes Dickson, John Payne, Langford Russell, Leaders, Northfields, Portico, Romans and Scott Fraser

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