Renters to End Up Worse Off According to New Survey
According to a new survey, 37% of landlords say they may have to put up rents as a result of changes to landlord tax relief while 25% say the extra money they’ve had to fork out due to the Stamp Duty surcharge will result in them raising rents.
The study says landlords have already increased rents by 21% on average as a result of the changes that have hit the sector in the last few years.
These figures are as ironic as they are unsurprising. Landlords and buy to let experts have been warning of the impact of the government’s drastic changes since they were introduced, making it clear renters would end up worse off.
Indeed, the very people the government aims to be trying to help are now losing out as a result. Contrary to what some people believe, landlords don’t want to increase rents, they’re not trying to fleece their tenants. But they can’t run their properties at a loss. If costs increase then rents have to as well in order to make the numbers add up.
If only someone had told the government this would happen, eh?