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Despite the obvious pressures caused by Coronavirus and the evictions ban that comes with it, latest figures suggest the private buy-to-let sector is in relatively rude health.

The Vesta and Property Tribes-commissioned survey talked to nearly 160 landlords between June 23 and August 21. The feedback revealed that 35 per cent received a request from a tenant for a rent reduction or some kind of payment holiday connected to Covid-19.

It also showed that around three quarters of landlords collected more than 90 per cent of rent due to them between March to June 2020, and only three per cent of landlords collected less than half of rent due.

However, a third of landlords have tenants with arrears - a higher figure than has been reported in similar surveys in recent months.

Despite the difficult circumstances, 66 per cent of landlords believed their rents would increase or at least stay the same over the next 12 months.

“There is a lot of negative press and headlines about a very small minority of rogue landlords that do not treat their tenants fairly and with empathy,“ said Russell Gould, Vesta’s chief executive. “The results of this survey and the actions taken demonstrate that the vast majority of landlords have worked with, empathised with and have supported their tenants during the pandemic.

When it comes to tenancy occupation, some four fifths of landlords said around 90 per cent of their rental properties were fully tenanted. This compares with typical void periods in the UK prior to the pandemic of around three weeks per year, equivalent to an occupancy rate of some 95 per cent.

Gould continued: “Many landlords are retired and rely on rent as their major source of income so many have taken a significant financial hit to help their tenants impacted by COVID-19.”

 

 

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