Sky Blue Homes, a Leicestershire-based property management company, has surveyed a group of Midlands landlords on their awareness of, and opinions on, controversial new property legislation including the abolishment of agency fees, wear and tear allowance, mortgage interest rate relief and To Let boards.
The survey, conducted with a range of respondents including single-property landlords and larger commercial investors, found a fairly mixed knowledge of these issues, with half of respondents claiming to be either ‘vaguely’ or ‘not at all’ aware. There was a unanimous lack of support for recent Regulation 7 Direction prohibiting the display of To Let boards in conservation areas, with all landlords surveyed believing that properties, regardless of location, should still be advertised on the street.
Agency fees, meanwhile, proved a slightly more mixed issue, with around two thirds of respondents disagreeing with the government’s Autumn Statement vow, with the remaining third believing that the costs should be passed on to themselves or their tenants. In a ‘further comments’ section, one landlord suggested that because, “homeowners pay valuation fees and mortgage fees”, renters should do the same. Another predicted that, “tenants will pay high rents and they will be free to move from property to property,” suggesting shorter-term lets may become the norm.
One landlord simply answered, “Please do not punish everyone for the bad practises of the minority,” echoing the sentiment expressed by property agencies nationwide that these changes may be largely in response to the actions of a select number of large corporate agencies.