How have landlords been affected by COVID-19?

How have landlords been affected by COVID-19?

According to new research, which considered 621 online interviews from landlords, 64% believe that the pandemic will have had little impact on their financial income.* 

 

This showed a 3% increase from the 61% that was reported in Q2. 

 

The research also revealed that it was the self-employed landlords, who make their living from rental income, that were most affected (62%), compared to retired landlords (39%) or employed / part-time (45%). 

  

Despite these stats, only a small number of landlords expected to lose their business completely due to the pandemic, with just 1% concerned. 

 

What does this look like regionally?

 

74% of landlords in Central London said their lettings business had some form of negative impact over the past 18 months. 

  

Yet recent figures for tenant demand in London do show a significant drive in demand compared to levels reported throughout the pandemic. 

  

Meanwhile, landlords in Wales (43%) and the North West (45%) were reported to be the least likely to have any negative repercussions. 

 

The recent resilience in the buy-to-let sector is a testament to the strength in portfolios across the UK. 

  

If you were thinking about expanding your portfolio to help meet tenant demand levels, please feel free to browse our properties or contact us directly. 

 

*Foundations Home Loans