Three-quarters of portfolio landlords say managing rentals has become harder, study finds
Roma Sharma, managing director of Rushbrook, said: “Managing a rental portfolio has always required time and expertise, but the legislative landscape has become considerably more demanding."
Almost three-quarters of portfolio landlords believe managing their rental properties has become harder in recent years, according to research from Rushbrook.
The residential property management specialist surveyed landlords who manage their own portfolios, with 62% of respondents owning six or more rental properties and 36% owning at least 11.
Some 74% said self-managing their rental portfolios had become harder over the past three years, while 57% said recent changes to rental market regulation had made them reconsider whether they wanted to continue managing their properties themselves.
Compliance and legislation was the biggest source of stress for 41% of self-managing landlords, ahead of maintenance and repairs at 20%, managing changes between tenancies at 11% and tenant communication at 10%.
However, maintenance and repairs placed the greatest demand on landlords’ time, cited by 52% as the most time-consuming aspect of managing their portfolios.
More than two-thirds (68%) reported spending at least 31 hours a month managing their rental properties, while a further 17% spent between 21 and 30 hours.
The research found 77% regularly delayed dealing with non-urgent maintenance issues because they did not have enough time to arrange them.
Keeping on top of legislation and compliance was the main reason landlords would consider using professional property management, cited by 26%.
This was followed by saving time at 21%, reducing stress at 15%, dealing with tenants at 11% and managing maintenance and repairs at 9%.
Roma Sharma, managing director of Rushbrook, said: “Managing a rental portfolio has always required time and expertise, but the legislative landscape has become considerably more demanding and the Renters’ Rights Act has only increased the focus on getting things right.
“What’s interesting is that landlords aren’t simply telling us regulation is stressful; for many it’s making them reconsider whether self-management remains the right approach.
“When you’re juggling multiple properties, keeping on top of compliance alongside maintenance, tenants and the day-to-day running of a portfolio is a substantial undertaking.
“Professional management isn’t about landlords relinquishing control of their investments. It’s about having the expertise and infrastructure around them to ensure their portfolios continue to be managed properly as the demands placed on them evolve.”
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