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Survey reveals landlords’ concerns over tax changes
24 November 2015
The survey can be seen as an indicator that for many landlords, renting out their buy to let property has become less straightforward. Not only do landlords think that the profit margin will be much lower once the Government’s plans come into effect in April 2017, but legislation like Right to Rent and other new rules and regulations have made making an income through letting out property more confusing to some. 24% of landlords participating in the survey do believe that new laws are confusing and 11% even said they were not sure they fully understood them.
Interestingly, at the same time the number of tenants is set to increase over the next decade. A study by PwC released in the summer indicated that a quarter of the UK population will live in rented accommodation by 2025. The current survey by Your Move and Reeds Rain however shows that only 16% of landlords were aware of this trend, which could mean that over 80% of landlords are misinformed.
As Adrian Gill, director of the company, states, landlords will see an increase in demand for rental properties with the growth of the population. Despite the changes in buy to let tax and regulations, landlords can expect a positive future for their property investment.
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