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Landlord awareness is lacking according to recent lettings survey

Landlord awareness is lacking according to recent lettings survey

Monday 20th February 2017

The Landlord Knowledge survey conducted by online letting agency Urban, highlights an increasing need for letting agents to assist landlords in the ever-evolving, complicated private rented sector.

The results of the survey of almost 4,000 buy-to-let landlords revealed that:

  • around 20 per cent of landlords are unaware of existing EPC regulations, and 17 per cent were unaware of the MEES changes set to come in to effect from next year;
  • 70 per cent of landlords are not aware of all procedures involved in the Right to Rent regulations which came into effect a year ago;
  • only 34 per cent of landlords adequately test the smoke and CO2 alarms in their rental properties;
  • 38 per cent did not know that a tenant could refuse them access to the rental property even with 24 hours' notice;
  • substantial numbers were unaware of the repercussions of failing to join selective or other local authority licensing schemes that exist in many areas;
  • 90 per cent of landlords made errors when questioned on their responsibilities over tenancy agreements;
  • around a third of landlords showed confusion over gas safety requirements;

only 50 per cent of landlords appeared to be aware of the potential tax consequences of April's start to the phased reduction of mortgage interest tax relief.

"One reason to explain the lack of industry knowledge could be due to the recent influx in new regulations, which have flooded the rental market" explains Adam Male, co-founder of Urban.

If you are a private landlord and would like some information on how Affinity can make renting your property simple and hassle-free, please get in touch with us today.