Greater than two in 5 (44%) landlords say they’ve supported tenants financially up to now yr, akin to by lowering or pausing hire, a survey has discovered.
Practically three-quarters (74%) of landlords mentioned they really feel a duty to assist their tenants throughout occasions of monetary hardship, in accordance with the analysis from The Landlord Works, which helps landlords to handle their property portfolios.
Practically 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 yr 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 lift 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 accomplice model to The Mortgage Works, Nationwide Constructing Society’s buy-to-let lender, mentioned: “Landlords are going through an actual dilemma in the intervening time in coping with the continued rising price of residing.
“On the one hand, there’s a want to make sure they’ll cowl the growing prices related to their properties and guarantee they’re following the market. Nonetheless, as our analysis demonstrates, they’re additionally aware of 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 occasions.
“And in a variety of instances, this sentiment has been met by monetary assist for his or her tenants during the last 12 months.
“Whereas we’ll see rents rise over the approaching months in lots of instances, we will additionally anticipate landlords to supply continued assist at what’s a troublesome time for a lot of.”