Financial Worries Plague Landlords as Inflation and Cost of Living Crisis Take Centre Stage

A recent survey carried out by the property finance broker Finbri has highlighted the concerns keeping landlords awake at night. The objective of the survey was to uncover the deep-seated anxieties of landlords, and the results are quite alarming.

The survey revealed that a significant 85% of landlords are worried about rising inflation, while 77% are concerned about the general cost of living crisis. It is evident that the current state of the economy is undeniably impacting property owners. In addition, 74% of landlords are burdened by worries about energy prices, further adding to their mounting anxiety.

The survey also unveiled that 69% of landlords are troubled by mortgage costs as they grapple with the financial implications of the ongoing crisis. Alarmingly, only a mere 3% are optimistic about the economy, indicating a pervasive sense of pessimism within the landlord community. Furthermore, 60% of landlords are feeling pessimistic about the overall direction of the property market, compounding the heavy burden of financial worry that they carry.

Regarding rental rates, the survey found that 43% of landlords did not increase their rents in 2023, despite one in four experiencing non-payment issues. On a positive note, a resounding 93% of landlords reported being content with their tenants, suggesting a growing trend of fostering positive, long-term relationships despite the challenges they face.

Reflecting on the findings, a spokesperson from Finbri addressed the growing tension and anxiety amongst landlords and property owners as they battle the financial crisis and a property market that is on shaky ground. Despite these challenges, there is a silver lining in the form of landlords’ efforts to maintain positive relationships with their tenants amidst the uncertainty.

The survey results serve as a stark reminder of the turbulent times that landlords are currently grappling with, as the financial crisis and the state of the property market weigh heavily on their minds.

This paints a concerning picture for the future of rental properties as landlords navigate these uncertain times. It is clear that the financial worries stemming from inflation and the cost of living crisis are taking a significant toll on landlords, who are left to weather the storm amidst a fragile property market.

In times like these, it is crucial for landlords to seek support and guidance to navigate the challenges they are facing. By fostering positive relationships with their tenants and staying informed about the evolving economic landscape, landlords can better position themselves to weather the current storm.

It is evident that the tumultuous times have brought to light the resilience and determination of landlords, who are continuing to navigate the challenges with unwavering resolve.