Almost exactly a quarter of landlords questioned in a survey admit to being baffled by the constantly changing regulations surrounding the private rental sector.
Of those in that position, just over a third say it’s difficult to keep up with the pace of change, while a hefty one in six find the process stressful - with a third of those tempted to sell up rather than keep up.
A fifth say they can’t afford the necessary legal advice and more than one in eight find it challenging to comprehend regulations and how exactly they are affected.
The research also revealed a worrying lack of awareness of several important regulatory issues and trends: around one in seven were unaware of local licensing arrangements, the appropriate health and safety regulations, and incoming sustainability and energy requirements.
Around one in 10 were unaware of new smoke and carbon monoxide alarm requirements, changing to Capital Gains Tax filing deadlines, and the planned changes to the minimum EPC standards.
Of those landlords who DID feel on top of the changing landscape, a third say they conducted their own research while another third said their letting agent would keep their properties in line with regulations.
Just over a fifth read landlord trade publications and newsletters, and 18 per cent receive advice from a lawyer.
The survey was conducted by Direct Line business insurance and its business manager Jamie Chaplin says: “Landlords are faced with a range of challenging regulatory changes and issues and our research suggests this is causing them a range of problems. In some cases, this is causing stress and anxiety, which is leading many to consider selling their properties.”
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