According to research by Total Landlord Insurance, which surveyed 1,059 landlords, 17 per cent said they planned to reduce the size of their portfolio due to the government’s latest plans to reform the rental sector.
These plans include abolishing Section 21 ‘no-fault’ evictions, removing blanket bans on renting with pets, those with children or on benefits, and increasing notice periods for rent increases.
Around four per cent of landlords surveyed said they planned to increase their buy-to-let portfolio.
The research showed mixed responses to the government’s proposals, with 60 per cent in favour of giving tenants more power to prevent arbitrary rent review clauses which could curb “unjustified rent increases”.
Around 58 per cent said they support plans to double notice periods when rent increases were “justifiably implemented”.
The majority of landlords, 89 per cent, were in favour of creating a new ombudsman to oversee rental market disputes.
The research also showed that 60 per cent did not support the abolition of Section 21 evictions and 57 per cent said they were against allowing tenants to rent with a pet.
It also showed that 59 per cent were against proposals to make a blanket ban on tenants renting with kids or on benefits illegal.
Eddie Hooker, chief executive of the Hamilton Fraser Group, said the latest government proposals were “rather tenant focused” and whilst any attempts to improve the sector were welcome, it should improve standards for all stakeholders.
Hamilton Fraser Group oversees industry schemes such as Mydeposits, the Property Redress Scheme and Client Money Protect, and Total Landlord Insurance.
He added: “Despite this, our latest gauge on landlord sentiment shows that the vast majority are in favour of greater tenant protection and a fairer, more level playing field across the rental sector.
“This has always been the case and while there are bad apples in every batch, the view that all landlords are money hungry tyrants who forsake tenant welfare to increase their rental yield simply isn’t the case.”
Hooker said although landlords were happy to see tenant welfare improve, they were “understandably protective of their investment portfolio and don’t want to be powerless when it comes to removing rogue tenants, or preventing potential damages to their properties”.