Property letting - should you stay or should you go?

With a raft of changes incoming, letting is becoming more complicated for landlords to manage. Peter Maskell discusses why it’s still a sound investment.

If you're a landlord, or considering becoming one, it's hard to ignore the wave of changes currently affecting the rental market. Legislative reforms, tax increases, and political changes are causing some landlords to exit the market altogether. But despite these challenges, the rental market in Horsham and Haywards Heath presents significant opportunities. At Brock Taylor, we believe that with the right guidance and support, landlords can navigate these changes and thrive in today’s rental market.

In this blog, we’ll explore the recent changes affecting landlords, why the demand for rental properties is still high, and how Brock Taylor’s fully managed letting service can help you maximise your investment with minimal stress.

The challenging landscape for landlords

There’s no denying that recent political and legislative changes have made it increasingly challenging for landlords to manage properties on their own.

Key changes include:

1. The Renters Reform Bill

Set to be introduced as the Renters Rights Bill, the Renters Reform Bill aims to improve tenant security and rights. One of the most significant changes is the proposed abolition of Section 21, which currently allows landlords to end a tenancy without providing a reason. Once this change comes into effect, landlords will need to follow stricter guidelines when regaining possession of their property.

2. Tax changes

Over recent years, landlords have faced a series of tax changes, including the reduction of mortgage interest relief and higher stamp duty for second properties. These changes have impacted the profitability of buy-to-let investments, prompting some landlords to sell up.

3. Increased regulations

There are now over 200 separate pieces of legislation governing the rental sector. From health and safety compliance to energy efficiency standards, the legal requirements for landlords are more complex than ever before. Without expert knowledge, it can be challenging to keep up with the latest regulations. But that’s what we’re here for.

There’s still huge demand for rental properties

Despite these changes, one thing remains clear: the demand for rental properties is not going away. In fact, it's stronger than ever, as there are simply not enough rental properties to accommodate individuals and families looking for tenancy.

The reality is that demand for rental property is unlikely to ever diminish, as not everyone has the finance in place, or optimal personal circumstances, to buy a property.

There are various reasons people rent in Horsham or Haywards Heath:

• Many individuals and families are finding it harder to get on the property ladder, increasing the need for rental accommodation
• Divorce and separation can divide assets making property ownership difficult
• The flexibility of renting appeals to those who aren’t ready to settle in one place long-term
• The local area continues to attract professionals and families looking for quality homes in well-connected communities
• Individuals may have temporary work commitments in the area (which can become permanent).

In Horsham and the surrounding areas, we’ve seen an 8% increase in rental prices over the past year, so landlords who remain in the market have a fantastic opportunity to achieve higher rental yields.

Why leasing is still a sound investment

While managing a rental property has become more complex, the fundamentals of property investment remain solid:

• Tangible asset: Unlike stocks or shares, property is a physical asset that you can see and touch. It holds intrinsic value.
• Capital appreciation: Over time, property values tend to rise. Even if rental yields fluctuate, the long-term appreciation of property value offers a secure investment.
• Rental yield: With rental prices on the rise, landlords can achieve attractive rental yields, particularly in high-demand areas like Horsham and Haywards Heath

Owning a rental property can still be a profitable venture - especially if you have the right support to navigate the challenges effectively.

Brock Taylor’s fully managed letting service

Today’s rental market is very complex. So it’s no surprise that many landlords are asking themselves if it's worth the hassle. Our answer is yes, as long as you don’t have to deal with it all yourself.

At Brock Taylor, we offer a fully managed letting service that takes the stress out of being a landlord. Here’s what that means for you:

• Compliance management: We ensure your property meets all current legal requirements, from safety checks to tenancy agreements.
• Tenant vetting: We thoroughly screen tenants to reduce the risk of rent arrears or property damage.
• Ongoing property management: From maintenance requests to inspections, we handle everything on your behalf.

Our team is ARLA Propertymark accredited, meaning we adhere to the highest industry standards. ARLA accreditation ensures that our team is trained, knowledgeable, and up-to-date on the latest legal and regulatory changes. It’s a mark of trust and professionalism that landlords can rely on.

Additionally, we’ve been voted the best letting agent in Horsham for six years running at the UK Property Awards. This recognition highlights our commitment to delivering outstanding service to both landlords and tenants.

At Brock Taylor, our message to landlords is simple: Don’t panic. Yes, the market is changing, but with the right support, you can navigate these changes and continue to see strong returns from your investment.

Join us for a landlords information evening

If you’re feeling overwhelmed by the changes in the rental market, you’re not alone. That’s why we’re inviting all local landlords, and those thinking of becoming a landlord, to our Landlords Information Evening on 13th March.

This event is designed to provide clear, practical advice on navigating the current market. You’ll have the opportunity to:

• Learn more about the latest legislative changes and what they mean for you.
• Ask our experts any questions you have about managing your property.
• Network with other landlords and share experiences.

It’s a must-attend event for anyone looking to stay ahead in the rental market.

Register your interest for FREE here

Ready to Let with confidence?

Whether you’re a seasoned landlord or new to property letting, Brock Taylor is here to help. Our fully managed letting service takes the complexity out of renting, so you can focus on the benefits of property ownership without the headaches.

Contact our expert team today to learn more about how we can support you.