CPS Homes

Nathan Walker shares thoughts on the current rental market with WalesOnline

Always leading the way in reflecting and representing the views of landlords in the private rental sector, WalesOnline recently approached CPS Homes to ask our thoughts on the current market and how landlords have reacted to growing legislation & regulations they have to comply with.

I shared my thoughts with their reporter, Ben Summers, in an article published this week.

Nathan Walker in CPS Homes window

My statement in full:

“Landlords in Wales feel like they’re under a sustained attack. In particular, those who let properties in the student market – which accounts for a large proportion of the HMOs provided across the city – believe they’re undervalued for the essential service they provide to a transient demographic. 

Existing landlords have had to contend with restrictions on mortgage interest relief in recent years, whilst first-time or growing landlords are now forced to pay a levy on new purchases. They face further uncertainty in the shape of the Renting Homes (Wales) Act 2016 due to come in this December – six years after first being passed – which is described by Welsh Government as “the biggest change to housing law in Wales for decades”. It’s the straw that broke the camel’s back, leaving many wondering what obstacle will be put in front of them next.

Nathan Walker shares landlord concerns

We’ve noticed a trend in long-time landlords opting to bow out under the mounting red tape, but new investors are very much picking up their reins, especially where the property is located in a well-established buy-to-let area, such as Cathays. It’s a ‘changing of the guard’, so to speak.

That said, this concern is greatly reduced amongst the landlords for whom we manage properties as they recognise and appreciate that we have their best interests at heart, all whilst being here to buffer and support them.

The Government’s mission is to allow renters to get on the homeowner ladder, but the way they’re going about it is counterproductive. Turning landlords away from the rental market is causing a supply crisis at a time when demand continues to soar, resulting in rents going up, making it even harder for tenants to save for a deposit.”

Let CPS Homes help

Before making any big decisions I would encourage any landlord, whether you have just the one investment property or an extensive portfolio, to have a conversation with myself or one of my colleagues within the next couple of months.

Our dedicated team possess the expert knowledge that will help you protect your properties as well as the tenacity and drive to consistently make sure you’re in the strongest possible position for whatever lies ahead in the future. Reach me on 02920 454555 or email nathan.walker@cpshomes.co.uk and we'll arrange a chat.

04 October 2022

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

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