Half of Agents say they Don’t Know who they’ll vote for

Around half of letting agents and landlords say they are unsure about how they will vote in the General Election.

A joint survey of around 1,000 property professionals by the National Residential Landlords Association and PropTech company Goodlord show that 45% of landlords and 39% of letting agents have decided who they will vote for - but 27% of landlords and 19% of letting agents say they are open to having their mind changed, while 19% of landlords and 26% of letting agents do not know to vote for in the General Election.

According to the survey, 81% of landlords and 70% of letting agents say the specific policies adopted by the political parties will play a role in how they decide to vote in the election. This means that parties which listen to industry concerns could stand to unlock a large number of swing votes from across the private rented sector. 

Amongst landlords, 73% say that party policies relating to the PRS will influence their vote. Only 6% of landlords said party policies towards the private rented sector would have no influence on their vote. 

The private rental sector policy areas identified by letting agents as the most likely to influence their vote included 24% would be more inclined to vote for a party that reinstated tax relief for landlords under section 24; and 22% would be more inclined to vote for a party that retained Section 21, due to be abolished under the Renters Reform Bill.

However, despite the private rental sector policy being a key area of concern for both agents and landlords, a range of other areas are considered more important by property professionals when it comes to how they will vote. 

The policy area that letting agents care most about is the cost of living crisis, with over half (51%) saying it was their top priority. In contrast, only 17% of landlords cited cost of living as their number one concern. 

Instead, amongst landlords, the leading policy area likely to influence their vote is general economic competence of the government - 43% of landlord respondents cited this as their top priority. Only 21% of agents put this at the top of their list of political priorities. 

However, a majority of both landlords and letting agents stated that policies relating to the NHS and taxation are their second and third most valued priorities respectively.

Ben Beadle, chief executive of the National Residential Landlords Association, says: “With British politics in a state of flux in the run-up to the General Election, these findings reveal how both parties, with the right approach, can win landlord support for policies which will help build a stronger private rented sector.

“This data shows how landlords and agents are eager to support a party which promises to put in place the foundations of a successful rental market. We urge the Government to continue to engage with key stakeholders across the sector to ensure the legitimate concerns of both groups are taken into account.” 

And William Reeve, chief executive at Goodlord, comments: “With an election just around the corner, it’s interesting to see how many property professionals are still ‘up for grabs’ politically. And while neither landlords nor estate agents have the most favourable media image, there are around 3 million of them in the UK. It’s a constituency no politician should ignore. This report shows that, in addition to the critical issues of the day around the economy, cost of living and NHS, property professionals are paying keen attention to the party positions on the Private Rental Sector.”

You can read the full copy of the report by clicking here.