Landlords selling properties represent the single biggest threat to renters with three in 10 landlords planning to cut the number of properties they rent out latest data from the National Residential Landlords Association (NRLA) reveals.
And among households eligible for support from their council to prevent homelessness following the end of a private rented tenancy agreement, just under half (45%) needed help because their landlord planned to sell the property in the second half of 2023.
This was more than twice as much as the next most common reason for the end of rental tenancies which was landlords planning to re-let the property.
Last month lobby group Generation Rent warned that ‘landlords selling properties is a leading cause of homelessness’ but new data published by the NRLA exposes the scale of the supply crisis across the private rented sector.
With Peers due to debate the Renters (Reform) Bill for the first time today NRLA’s latest landlord polling found that eight out of 10 (83 %) reported that demand for rental properties by tenants is ‘strong’.
PLAN TO CUT
Ben Beadle, NRLABut the same survey saw three in 10 (31%) say they plan to cut the number of properties they rent out, compared with just one in 10 (9%) who plan to increase the number of properties to let.
BIGGEST CHALLENGE
Ben Beadle, Chief Executive of the National Residential Landlords Association, says: “Landlords selling up is the single biggest challenge renters face. The only answer is to ensure responsible landlords have the confidence to stay in the market and sustain tenancies.”
SUPPORT THE BILL
He adds: “As Peers debate the Renters (Reform) Bill, it is vital that it works for landlords as well as tenants. As it stands it would achieve this balance. We are calling on Peers to support the Bill to give the sector certainty about the future.
“More broadly, all parties need to accept widespread calls for policies to boost supply in the private rented sector.”
