Recently, a leading estate agent has disputed claims that landlords are exiting the market due to the increasing costs of renting out properties. This comes after reports of a decrease in the number of landlords in the UK, with some citing the high cost of taxes and regulations as the main reason for their departure.
The estate agent, which has not been named, has argued that the decrease in the number of landlords is not necessarily due to them leaving the market, but rather due to a shift in the way landlords are operating. According to the estate agent, landlords are now more likely to rent out properties on a longer-term basis, rather than on a short-term basis. This means that landlords are able to benefit from the security of longer-term tenancies, as well as the potential for higher rental yields.
The estate agent also argued that landlords are still very much in the market, but they are simply adapting to the changing landscape. They pointed out that landlords are increasingly turning to online platforms such as Airbnb and other short-term rental services in order to make their properties more attractive to potential tenants. This has allowed landlords to benefit from higher rental yields, while also giving them more flexibility in terms of how they manage their properties.
In addition, the estate agent argued that landlords are also taking advantage of new technology to make their properties more attractive and easier to manage. For example, they highlighted the use of smart home technology, which allows landlords to remotely monitor and control their properties from anywhere in the world. This technology has allowed landlords to reduce their costs and increase their efficiency when it comes to managing their properties.
Overall, it appears that landlords are not exiting the market due to the increasing costs of renting out properties. Instead, they are adapting to the changing landscape by taking advantage of new technologies and services in order to make their properties more attractive and easier to manage. This is good news for both landlords and tenants, as it means that there is still a healthy rental market in the UK.