The Residential Landlords Association says it completely rejects data produced by LSL Property Services showing rents in England and Wales up 1.4 per cent with landlords making substantial returns as a result.
The RLA claims the LSL figures are undermined by the more comprehensive and independent data from the Office for National Statistics showing rents between March 2013 and 2014 increasing just one per cent - whilst inflation as measured by RPI was 2.5 per cent over the same period.
RLA vice chair Chris Town says: Whilst many have chosen to cherry pick the data on rents they want to use to suit their argument, the reality is that the most comprehensive, ONS data shows clearly that rents are increasing by much less than inflation. LSL's figures fail to outline the considerable costs that landlords face in managing, maintaining and repairing properties. With interest rates likely to increase in the near future prospects for landlord finances remain uncertain.
He goes on to emphasise that landlords have to make some return to cover their costs and the question for those who spend so much time bashing landlords is what return they feel is reasonable for landlords to make. Only then can we have a sensible debate.
The RLA claims that official figures show 79 per cent of all landlords earn less than a quarter of their income from letting properties with 21 per cent earning no income at all from it.
More recently, an analysis by the Daily Telegraph has warned also that a number of buy-to-let landlords could see their cash flow turn negative as early as 2017 if interest rates rose to the levels hinted at by the Bank of England governor, Mark Carney.
%20(002).png)
Comments
I know people like to think that us landlords are sitting on our money, getting richer and richer, but it is hard work to have property run smoothly! Lots of opinions about landlords seems to shaped by negative media stories. You always hear about bad landlords, but you never hear about all of the good landlords who are trying to make a living and maintain their properties to a high standard! I'm happy that the RLA has taken a sensible stance on behalf of all of us hardworking landlords!
Glad to see the RLA sticking up for landlords. We get as much media stick as agencies these days! We're not all corrupt!
Well the RLA have got to do something with their time haven't they
Just a PR story, it does not need substance.
Lies, damned lies and statistics, as they say. One organisation says one thing, another refutes it, we never really find out the actual truth. It never changes.