Half of landlords in England have kept rents unchanged over the past year, according to a survey of 2,000 landlords by the TDS Charitable Foundation. This is up from 40% in the previous survey. The figures were reported by PropertyWire.
Retaining current tenants is the top reason for the decision. It was cited by 47% of those surveyed. A further 44% said they had taken into account the financial pressures on tenants due to the rising cost of living.
„It is encouraging to see more landlords choosing to keep rents unchanged, especially at a time when many tenants continue to face significant financial pressures. But our research shows that rent decisions are rarely clear-cut,” said Jennifer Harris, head of policy, research and social impact at The Dispute Service Group.Larger portfolios more likely to lead to increases
The research highlights differences by landlord profile. Owners with no debt or mortgages on the property, those with a single home and those who have never used an estate agent are less likely to increase rents.
However, 48% of landlords reported increasing rents at least once in the 12-month period. The most commonly cited reasons are higher running costs, higher property maintenance costs and a general increase in the cost of living.
The increases are more common among owners with larger portfolios, annual incomes of £100,000 or more, and those who own at least one multi-occupancy property, known as an HMO. The same trend is seen among landlords who use an agency to manage or let the property.
Fewer rent arrears
The survey also reports a slight drop in arrears. Just over a quarter of landlords said they had at least one tenant in arrears. In the previous survey, this proportion was 29%.
The results show that landlords are balancing the increased costs of managing and maintaining properties against the risk of losing the right tenant. For some of them, preserving the existing rental relationship turns out to be more important than an immediate increase in income.
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