The era of the ‘amateur’ landlord may be at an end according to accountants and business advisors French Duncan LLP.
This year will see further erosion of the tax benefits of being a landlord and by 2020 there will be few financial incentives left for landlords.
Many private landlords became because of circumstances i.e. they inherited property, or they were unable to sell their property and decided to rent it out until the market picked up. These ‘amateur’ landlords, who are estimated to account for 60% of all landlords, are now faced with an array of financial and regulatory changes which have turned what was once a lucrative hobby into an administrative nightmare which may end up costing them money.