In the UK, 3.5 million households—over one third of the total—are either privately or socially rented, according to Statista.
But landlords have been having a tough time... NRLA says 56% of UK landlords reported loss in rental income in 2021. The same amount of landlords have given tenants a deferred rent or rent-free period and plan to absorb their losses with their own savings.
On top of this, tenancy fraud is on the rise with legal costs and lost revenue costing landlords an average of £30,000, NRLA data reveals.
These stats paint a pretty bleak picture. But, luckily, that’s not the full story…
Since lockdown measures have been eased the market has taken an upturn, 48% of landlords are now optimistic about the UK private rental sector, while 21% feel confident about the overall UK financial market, Statista data shows.
Although landlords no longer face the challenges Covid-19 and lockdown brought, it’s still super important agencies keep their landlords happy. So we’ve created a guide that highlights landlords’ top priorities and how you can meet them!