A new report has been published and can be seen here. In summary:
- There are approximately 3.9 million live deposits registered with one of the three government-backed Tenancy Deposit Protection (TDP) schemes that operate in England. These correspond to an estimated 438,000 registrants (landlords and agents), only some (about 408,000) were landlords who had registered the deposits themselves.
- It is estimated that the TDP schemes cover between 59% to 77% of households in the private rented sector
- Just under half of all landlords owned one rental property, though nearly half of tenancies were owned by landlords with five or more properties.
- 43% of landlords owned one rental property, representing 20% of tenancies.
- A further 39% owned between two and four rental properties, representing 31%
- The remaining 18% of landlords owned five or more properties, representing
almost half (48%) of tenancies.
- Landlords who operated as individuals had smaller portfolios than those that operated as companies or organisations.
- More than four fifths (85%) of landlords operating as individuals had between 1 and 4 properties, with just under half (45%) owning 1 property.
- Fewer than half of landlords that operated as companies or organisations owned between 1 and 4 properties, with just 11% owning 1 property. More than half (56%) owned 5 or more properties.
- Individual landlords are more likely to identify as male than female. Male landlords are more likely to report having larger portfolios.
- 55% of landlords identified as male, whereas 44% identified as female.
- Female landlords were more likely than male landlords to own one property –
55% of landlords owning 1 property were female, compared to 45% who were male. However, male landlords made up a higher proportion of all portfolio size categories owning 2 or more properties.
- While more than half of landlords bought their first property with the intention of letting it out, just over a third originally bought their first rental property to live in themselves.
- 52% of landlord purchased their first property with the intention of renting it out. Over a third (35%) bought their first property to initially live in themselves.
- Few landlords acquired their first rental property through inheritance (7%) or as a gift (1%).
- Landlords setting rents for new tenants were more likely to increase rent above the level at which the property was last let. Landlords setting rents for renewals of existing tenancies were most likely to keep the rent at the same level.
- For new tenancies, nearly half of landlords (45%) said they increased the rent compared to the previous tenancy, whereas 35% kept the rent at the same level, and 8% decreased the rent. 12% said that their most recent letting was the first time the property was let.
- For renewals of existing tenancies, 64% of landlords kept the same rent, 26% increased it, and 4% decreased the rent on renewal.
- Landlords evicting tenants in the last year most commonly did so by means of s. 21 (no fault eviction) notice. About a quarter said they used a s. 8 notice, meaning the tenant had broken the terms of the tenancy agreement
- Over two thirds (67%) of landlords who evicted tenants or asked them to leave in the last year gave their tenants a section 21 notice. One in four (25%) gave a section 8 notice. This is the notice that landlords can give if tenants have broken the terms of their tenancy.
- Over one quarter (27%) said they asked their tenants to leave informally, and one in twenty (5%) offered to pay the tenants to leave.
- Most landlords returned all or some of the deposit at the end of their last tenancy. Few said they returned none of the deposit.
- Nearly two thirds of landlords (62%) returned all of the deposit at the end of their last tenancy. Nearly a quarter (22%) returned some of the deposit.
- Just 3% did not return any of the deposit, and under a tenth (9%) said they returned none of the deposit and the costs at the end of their last tenancy exceeded the deposit
- Landlords were asked, based on a list of different characteristics of tenants, to which they were not willing to rent. Most landlords were unwilling to let to at least one type of tenant, most commonly, those with a history of rent arrears. Just 8% of landlords said they were willing to let to all groups of tenants on the list.
- More than four fifths of landlords (84%) were unwilling to let to tenants with a history of rent arrears. More than two fifths (44%) were unwilling to let to tenants on either housing support or Universal credit.
- Other characteristics of tenants landlords were unwilling to let to included students (48% unwilling) tenants with pets (45% unwilling) and tenants requiring adaptations to the property (44% unwilling).
- On average, landlords reported having one tenant in arrears due to the Covid-19 pandemic. Landlords with larger portfolios reported having more tenants in arrears
- On average, landlords reported having one tenant in arrears due to the COVID-19 pandemic. Nearly a third (29%) of landlords reported not having any tenants in arrears.
- Landlords with 1 property most commonly had either 1 tenant in arrears (67%) or no tenants in arrears (29%) and rarely had more than 1 tenant in arrears. 15% of landlords with 2-4 properties and 38% of those with 5 or more properties had more than one tenant in arrears.
- Most landlords reported that no tenants requested a new rent arrangement during the COVID-19 pandemic. Of those who did, the most common arrangements consisted of a reduced rent, or deferred rent with a repayment plan.
- Seven out of ten landlords (72%) said that no tenants requested a new rent arrangement during the COVID-19 pandemic. Nearly one in five (18%) said they negotiated a new arrangement with one tenant, and 9% said they negotiated a new arrangement with more than one tenant.
- Of those who agreed a new arrangement, 49% said this consisted of a reduced rent without anything in exchange and 31% said the arrangement involved a deferred rent with a repayment plan.
- When asked about future plans for their portfolio, nearly half of landlords said that they would keep their portfolio the same. Two fifths of landlords said they had not yet made plans. A similar number of landlords said they would increase their portfolios as said they would decrease or sell off their portfolio.
- Nearly half of landlords (48%) said they planned to keep their portfolio the samesize. Two fifths (20%) of landlords, representing 14% of tenancies, said they hadnot yet made plans for their portfolio.
- Similar proportions of landlords said they planned to increase their portfolio (11%of landlords, representing 15% of tenancies) as did decrease their portfolio (12%of landlords, representing 21% of tenancies) or sell off their portfolio (10% oflandlords, representing 8% of tenancies)