Summary of survey results from our newsletter readers

publication date: Dec 22, 2021
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

Summary of survey results from our newsletter readers

 

 

What are the top five projects people are carrying out currently?

They could choose more than one

  • 91% are landlords
  • 43% are dealing with property tax
  • 40% are carrying out home moving projects
  • 40% are re-mortgaging
  • 30% are investing

The others chose property legal work, renting, FTBs, trading up/down.

Of these, over 50% are 51 to 65 and the rest mostly over 65.

  • 62% own their own home with a mortgage while 31% own a home outright
  • 70% invest and/or let property

 

Which content do people like

Kate’s commentary is the most popular:-

  • Comment and analysis of government policy
  • Commentary on property news
  • Checklists and ‘how to’ articles
  • Property market analysis (property price/rent reports)
  • Buying, selling, investing, rental and letting costs

 

What content are we missing?

  • Property tax advice, including Making Tax Digital (MTD)
  • Exit strategies
  • How to sell a rented property
  • New build problems
  • Information on council houses and how private sector can help social sector
  • Cladding
  • Limited company mortgages

 

Thanks so much for everyone that has taken time to feedback, it’s much appreciated and we are now planning our 2022 content based on your kind comments and suggestions.

How do you think the government are doing with housing policies?

We also took the opportunity to ask you, now we have Mr Gove in place, what you think of government policies – what’s the good, the bad and the ugly?

Here’s a summary of the results:-

Q - Which of the following property policies do you think the Government have got right? (Please tick all that apply)

As far as the policies where our newsletter readers felt the government were doing well these included:-

  1. Support for First Time Buyers
  2. Change to leasehold
  3. Policies through Covid


And 25% felt the policies on creating more efficient homes were helpful.

However, the government didn’t get much support for their policies on:-

  1. Building safety bill/cladding issues
  2. Planning   
  3. Support for new build development
  4. Investment in social housing


And protection of tenants came down pretty low on people’s lists.

 

Social housing called for by landlords and property investors!

But perhaps the biggest surprise from the feedback – for those who aren’t fans of landlords/property investors – is their impromptu support for tenants and those who are vulnerable.

Much of the feedback was that the government really needed to provide more social housing for those that need it. I’ve said for a long time, the government is trying to ‘squeeze’ the private rented sector to meet ‘social need’ and in the meantime, failing miserably to enforce action against bad landlords and agents, allowing the rogues to ‘get away’ with treating vulnerable tenants badly.

The constant introduction of new laws (now there are 168 rules and regulations to let a property) with little enforcement and poor regulation as RoPA hasn’t been implemented, is testament to the fact that policies in the PRS have failed miserably to look after tenants that need help.

It’s also important that the government’s aim of punishing landlords and holding back investment in the PRS is now failing more than just vulnerable tenants – latest stock figures show that there is nowhere near the supply that tenants need. This is pushing up rents as tenants compete to find somewhere to live and means those that aren’t able to pay extra can only rent from landlords that typically don’t invest in their properties.

Landlords were also keen to point out that these policies are harming more investment in the PRS and indeed encouraging landlords to leave, these damaging policies include:-

  1. Section 24 mortgage interest deductions
  2. Shambles of the latest Green Grant Scheme and other energy efficiency measures
  3. Changes to S21 via the Rent Reform Bill
  4. Equalising rules in the PRS and social housing
  5. Poor eviction rules – for both tenants and landlords


Again, landlords stressed the need for government to deliver more social housing rather than rely on an unregulated and the poorly enforced rules and regulations within the PRS.

Overall, Landlords echoed the recent report from the National Audit Office that there was little joined up thinking and no long term approach.

The NAO went further to say that the government hadn’t the research needed to make decisions, which I wholly agree with! There is too much information which is ‘headline’ and ‘agenda’ driven and as a result, poor policies are inevitable.

 

What one policy would you want Mr Gove to introduce?

Lots of answers to this question, but some clear themes running through it:-

  1. Rescind S24 changes
  2. Provide more back up to build
  3. Better regulation of agents and landlords
  4. Halt to constant changes in legislation
  5. Keep S21


Others asked to solve the cladding crisis and stop leaseholders having to wrack up costs through no fault of their own.

In addition, accessibility to information on the history of rental payments including credit information.

And of course requests for lower tax!

So – over to you Mr Gove! 

We look forward to what happens next and who knows, it might be positive! He did sign off the ‘tenant loan scheme’ the industry and tenant groups had been asking for, for 18 months, in just a few weeks of being in office. Hopefully this means he is willing to work with us to provide a happy and healthy PRS for all!

Investing via a limited company -
Rita4Rent
Why join a landlord association? -
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Choosing a surveyor and type
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 -
RPSA
Investing via a limited company checklist Why join a landlord association checklist Choosing a surveyor or type of survey checklist

 


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