The Property Nomads3 Key Reasons Why Landlords Are Selling Up
Rob talks about the three key reasons why landlords are choosing to sell their properties. He highlights the challenges landlords are facing, including increased mortgage costs, higher taxes, and uncertainty surrounding legislative changes, and sheds light on the difficulties landlords are currently experiencing and the potential implications for the rental market.
KEY TAKEAWAYS
Landlords are facing challenges that are causing them to sell their properties, including increased mortgage costs, higher taxes, and uncertainty about legislative changes.
The supply of rental housing is decreasing as landlords sell more properties than they are buying, leading to potential increases in rent prices.
Increased mortgage costs are impacting landlords' cash flow and profitability, making it more difficult for them to sustain their property businesses.
Higher taxes, such as the stamp duty surcharge and the reduction in tax relief on mortgage interest, are adding additional financial burdens for landlords.
Uncertainty surrounding legislation, particularly regarding energy performance certificates and the Renters Reform Bill, is causing indecisiveness among landlords and potentially making it more challenging for them to manage their properties and tenants.
BEST MOMENTS
"Landlords are taking an absolute battering."
"Supply of rental housing is probably decreasing."
"Increased mortgage costs have been a bit of a pain in the backside."
"Higher taxes are another cost of business, not an ideal cost of business, but a cost of business nonetheless."
"The Renters Reform Bill is just another pin in the voodoo doll, another pain in the backside thing."
VALUABLE RESOURCES
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
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