Landlords intend to cut annual spending

Jennifer Lowe

May 12, 2017

Over a third of landlords are looking to cut their annual spending, according to the latest research by Kent Reliance. 

Landlords currently contribute £15.9bn per year to the British economy, a figure that has more than doubled since 2007.

A survey conducted on behalf of Kent Reliance revealed that 36% of landlords are already reducing or planning to reduce their spending.

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This indicates that across the private rented sector, total planned cuts would reduce spending by more than £500m each year.

John Eastgate, sales and marketing director of OneSavings Bank, said: “Trying to tackle the housing crisis by targeting landlords with punitive taxes is very simple and politically highly palatable, but has unintended consequences.

“One side effect of the recent changes, and rising running costs, will be the professionalisation of the sector as amateur and accidental landlords leave the market.

“There is nothing wrong with having fewer, bigger landlords, but that alone will not help more young people get homes.”

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  • Corby Macdonald

    Is the penny finally dropping! From the moment the tax changes and the new stress levels were introduced, it was not only going to be bad for the Landlords, but, also the tenants! The industry should be petitioning the Government to review this strategy of the Government and making them aware of how the vulnerable are affected, especially on a day, when the news is about tenants, borrowing money, from credit cards, family and friends to pay their rents!