Articles by Nick Clay
Landlord Confidence Index (LCI) No.21: 2024 Q1
Landlord confidence at the start of the year fell back slightly with nervousness over renters' reform. Confidence across England & Wales fell to 38.9 – down from 42.9, a fall of 9%. Notably confidence in Inner London (down 26% on the previous quarter) and the South East (down 21%) have pulled the index down. Whilst fewer landlords are planning future sales, very few landlords yet have the confidence to return to the market.
In Focus (2023 Qtr 4): Adaptations & leaseholder issues
This quarterly consultation focuses on, firsty, adaptations. It looks at the apparent mismatch between demand and landlord awareness of opportunities to offer property to tenants who require adaptations. Secondly, leaseholding issues and landlord views on key elements of the leaseholder bill progressing through Parliament at the time of this research. Landlord confidence is also presented - has the PRS reached a turning point?
Rent-to-Rent agreements - landlords urge caution
Rent-to-Rent agreements provide an alternative property letting model to the more typical approaches to renting. Whilst these arrangements can work for all where a rent-to-rent operator acts lawfully and manages the tenancy properly, they can be open to rogue operators. The NRLA recently asked members about their experiences of using Rent-to-Rent agreements. This blog post sets out some key findings.
Limited company status: current trends
The NRLA quarterly consultation programme gives an opportunity to track longer term trends in the PRS. One such trend has been the growth in the use of limited company status as the vehicle in which residential, rental property is held. Recently however this growth has stalled. This post investigates limited company status in more detail, linking recent trends to landlord confidence and investment.
Landlord Confidence Index (LCI) No.20: 2023 Q4
Landlord confidence rose slightly in the fourth quarter,consolidating the gains made in Qtr3. Strong growth in a few English regions has offset modest falls in others. Other indicators show that - maybe – the PRS is settling down after a period of volatility. Data indicates the market may be less frenzied, with fewer properties being snapped up as soon as they hit the market.
Prioritising possession cases - accelerating support for renters’ reform?
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.
In Focus (2023 Qtr 2): Landlords, ASB & rent controls
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.
In Focus (2023 Qtr 1): The PRS, property markets and the economy
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. .
Fixed rate mortgages - landlords highlight their role in PRS shake-out
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 Index (LCI) No.18: 2023 Q2
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.
