Landlords want the British media to stop using the term 'landlord'

The study by MFB reveals that 59% of landlords want the British media to stop using the term 'landlord' with 59% saying the name is 'outdated'.

Switching to something else will help reshape the narrative around property ownership and rental management, the landlords say.

One of the key aspects examined by the specialist BTL broker is that the label no longer accurately reflects the changing landscape of property ownership and rental dynamics.

When asked in a previous survey, 43% of participants preferred the label 'Small Housing Providers' which emphasises their role in providing diverse housing options.

Meanwhile, 36% remained attached to the term 'Landlord', while the remaining 21% opted for alternative designations, including the innovative 'Rental Accommodation Provider' (7%).

Portray landlords in a positive light

The reaction of Mortgages for Business follows two news items in the past week that tried to portray landlords in a positive light.

In the first, Nigel Terrington, the boss of Paragon Bank told the Sunday Times that landlords are 'not evil’, and they aren't 'running away’.

He said he wanted to bust the myth that the PRS has lots of 'scoundrel landlords' who don't care about their tenants.

The next day, the chief executive of Skipton Building Society, Stuart Haire, warned readers of the Telegraph that a 'demonised' private rental sector is seeing landlords being squeezed for tax and struggling with growing mortgage rates.

He also said that rising costs mean that growing numbers of landlords are finding it doesn't make financial sense to keep hold of their rental properties.

'Vilified the buy to let community'

Gavin Richardson, the managing director of MFB said: "Sections of the media have vilified the buy to let community.

"The government has hammered them — think of Theresa May's 3% Stamp Duty surcharge and other tax deterrents."

He adds: "It has got to the point where the buy to let community doesn't want to be associated with the term 'landlord' anymore.

"The term carries much more baggage than it once did. No wonder the community wants a rebrand."

73% of landlords believe they are unfairly portrayed

The broker's survey also found that 73% of landlords believe they are 'unfairly portrayed as this generation's financial bogeyman'.

Just 8% of respondents said they didn't feel like 'financial bogeymen' - but the remainder said their notoriety might not be entirely unwarranted.

Mr Richardson said: "The majority of landlords are paying 40% tax on their rental income - plus stamp duty - which means the government is profiting hugely from Generation Rent.

"And to what end? Hammering landlords over the last five years has done first-time buyers no favours.

"Research from Nationwide suggests first-time buyers now need to save a huge 113% of their annual salary for a typical home deposit of 20%!"

'If we took landlords out of the housing equation'

Mr Richardson continued: "What would happen if we took landlords out of the housing equation?

"The impact on the property market would be significant and almost entirely negative.

"It's not as if the government is pouring money into social housing — or making any progress on house building.

"Frankly, the government should be championing landlords and lauding their contribution to the housing sector — landlords are bailing the Government out!"

Britons are facing a financial crisis in retirement

Mr Richardson also highlights that growing numbers of Britons are facing a financial crisis in retirement because they haven't saved enough money for their pension.

He said: "Two thirds of employees aged 45 and over face poverty in old age unless they act soon.

"One in five Britons say they have no form of private or workplace pension."

He added: "It is regularly drummed into us that we need to invest for a comfortable retirement.

"And yet, when people start building a nest egg — investing in property to try to ensure they have an income for their retirement — they are reviled!"

'Landlords are fed-up with how they are being portrayed'

Simon Thompson, the managing director of Accommodation for Students, said: "There's a lot to agree with here - lots of landlords are fed-up with how they are being portrayed by large parts of the media.

"Without small landlords, the UK's housing sector would struggle and lots of people wouldn't have anywhere to live.

"Despite the vast majority of landlords offering a quality home for tenants, the actions of a tiny minority are used to tar us all with the same brush."

He added: "There's a huge issue building as more people need somewhere to live and landlords are selling up and leaving the private rented sector.

"And that’s not just down to the onerous legislation, the poor perception of landlords has also made landlords decide that offering homes to rent is simply not worth it anymore."