Rising living costs and interest rates are causing concern among landlords, as 44% said they have financially supported their tenants during the last 12 months, such as reducing or pausing rent, according to research from The Landlord Works.
The research, which was conducted between January and March included 729 UK landlords, found that around three quarters (74%) of landlords say they feel a responsibility to support their tenants during times of financial hardship.
Landlords said they could reduce their rents by an average of 7.6% before coming under pressure, which equates to around £50 per property a month based on a typical landlord’s rental income.
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