A recent survey conducted by Foxtons revealed that the outcome of the forthcoming General Election will have minimal impact on landlords’ decisions to either expand or sell their portfolios.
Regardless of who wins the election, a significant majority of landlords indicated that the results would not influence their property management strategies.
The survey, which included responses from more than 1,000 landlords within Foxtons’ 28,000-property portfolio, explored how the election might affect their operations.
Findings showed that 59% of landlords believed a new Labour Government would not alter their plans concerning their portfolios, with this figure rising to 76% in the event of a Conservative victory.
Landlords expressed skepticism about the support from major political parties for the private rental sector (PRS).
Only 9% of respondents strongly agreed that the Conservative Party supported the PRS, with 28% slightly agreeing.
The Labour Party fared worse, with only 7% strongly agreeing and 14% slightly agreeing that it supported the PRS.
When it came to voting intentions, the survey highlighted that policies affecting the private rented sector were crucial for many landlords.
Approximately 37% of respondents stated these policies were very important, and another 37% said they were somewhat important.
Conversely, 15% considered them not very important, and 11% believed they had no impact on their voting decisions.
The survey also found that 63% of landlords thought legislating against market rents would negatively affect their financial calculations, posing potential disruptions.
Landlords identified increasing the supply of social housing as a priority, with 30% ranking it as the most important change needed in the PRS.
Reforming land development was considered the least important.
Gareth Atkins, managing director of lettings at Foxtons, said: “The upcoming election is set to have a significant impact on the private rental sector, with landlords closely monitoring party policies and their potential effects.
“Our survey indicates that a considerable number of landlords are concerned about the implications of legislating against market rent with the majority of landlords thinking it will have the potential to disrupt landlord calculations.
“Overall, it seems that most landlords will not be altering their approach to investing in, owning and renting their properties.
“This should also be seen as most welcome from the point of view of tenants too in that it is unlikely that landlords will be running for the exits on Friday – no matter what happens.”
