Landlords reveal main reasons for using letting agents
Summary
Research cited in the article suggests compliance and legal complexity are now the leading reasons landlords use letting agents, ahead of control, service quality and fees. The survey also indicates many landlords expect to spend significant time on Making Tax Digital reporting and that a large proportion may move toward self-management over the next two years.
Why it matters
For residential property surveyors, the findings reflect a wider regulatory burden on landlords that can affect portfolio management, tenancy administration and demand for professional support services. The article also highlights the growing importance of compliance-led advice in the private rented sector.
Key points
- Compliance and legal complexity were the top reason for using letting agents.
- Two thirds of landlords have changed their management arrangements in the past two years.
- Most landlords in scope expect quarterly Making Tax Digital updates to take several hours each.
- Legislation is the biggest concern for landlords over the next 12 months.
- A majority of landlords paying for management report fees of 11% of rent or more.
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