In the monthly Upad Landlord Confidence, 61% of landlords said they felt more confident in buy-to-let. This is down from a 12-month high in January of 63%. 237 landlords responded to the question:
"Are you more confident or less confident about the buy-to-let market than you were last month?"
Amongst landlords who said they felt more confident, tenant demand continued to be a common theme.
Comments included:
- "Rents are still rising and I think this will continue to be the case until the banks relax their lending criteria for buyers."
- "Tenants just given notice and prospective tenants queuing up and thrusting deposits at us!"
- "London rents rising extremely well."
Landlords who said they felt less confident also cited their tenants as the reason, whether because of a fall-off in demand, or problems with receiving rents.
Comments included:
- "Tenants think they can lower the rent as they wish."
- "Overall less response to adverts, less money about."
- "The Austerity Measures are causing tenants to have less confidence. This is beginning to depress rents."
- "Rent margins are tight and the prospect of higher interest rates is damaging my confidence!"
James Davis, Upad's CEO, who is also a landlord himself, comments:
"More than ever this month, landlord confidence is all about the tenant. In some areas of the country, we're seeing a continuation of the record tenant demand of the last few months. As the cuts start to bite, other landlords are experiencing a variety of problems with their tenants. In some cases, tenants are in arrears; elsewhere, we're seeing rents start to fall.
"Tenants are rightly reluctant to over-commit themselves, but this does worry landlords, especially those whose rent payments are only just covering their mortgages. There is an ongoing concern about possible interest rate rises, which would be disastrous for many people."
"More than ever now, letting a property isn't just about finding a tenant and raking in the rent; it's about finding the right tenant and being as sure as you can be that they'll look after both your property and your income.
"Upad helps landlords find the perfect tenant for them; we advertise on the biggest UK lettings sites, ensuring that our landlords receive enquiries from the professional tenants they're really looking for."
