Around 10 per cent of landlords have signed up to the voluntary registration scheme.

The Landlord (Private Housing) Registration Bill 2020 passed through to legislation in July and means it has become a legal requirement for landlords, their representatives and properties to join a register by 2022.

Landlords are being encouraged to join a voluntary registration scheme in preparation for a mandatory register being introduced next year.

Minister for Infrastructure Tim Crookall MHK said in the House of Keys sitting last week that 42 landlords had signed on since its launch date in November.

There are around 400 landlords in the island, according to Alan Burrows, the chair of the Isle of Man Landlords’ Association.

He previously said landlords were ’exiting the market’ following the new legislation brought in by government.

Mr Crookall said: ’Subject to the department’s legislative plans and the availability of resources at the attorney general’s office, it is anticipated that drafting of regulations may take place in the new year with a public consultation on the draft regulations taking place - following this, Tynwald will then review the regulations.

’We have had quite a few comments and emails back to the department, but obviously that will come with the consultation in the new year, hopefully once the new regulations have been drafted. We are talking regularly to landlords.

’We’ve also responded to over 100 queries received.’