The Buy to Let property boom over the past decade has seen a flood of new landlords enter the market. But with over 145 individual laws and more than 400 regulations to follow, it’s surprisingly easy for even the most well-meaning landlord to end up breaking the law.
New research from property marketplace, TheHouseShop.com, has shed light on the scale of the challenge that landlords face, and how they are dealing with the increasingly complex issue of compliance.
Shockingly, almost 1 in 5 landlords (18.2%) said they find it “impossible” to keep up with constant regulation changes – with a further 30% (29.9%) saying they find it “very difficult” and another 30% (31.2%) finding it “quite difficult”.
The results clearly show that landlords are being overwhelmed by the sheer volume and complexity of rules and regulations in the rental market. In fact, compliance with law and legislation was listed as the most challenging aspect of managing a rental property by almost two thirds of landlords (63.4%).