Landlords selling up biggest threat to renters
Warning comes as Peers prepare to debate the Renters (Reform) Bill
Landlords selling properties represent the single biggest threat to renters according to government data.
Among households eligible for support from their council to prevent homelessness following the end of a private rented tenancy agreement, 45 per cent 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.
The news comes in the wake of concerns raised by tenant group Generation Rent, who have warned that “landlords selling properties is a leading cause of homelessness.”
With Peers today due to debate the Renters (Reform) Bill for the first time, new data published by the NRLA further exposes the scale of the supply crisis across the private rented sector.
A poll of landlords for the NRLA has found that 83 per cent reported that demand for rental properties by tenants is ‘strong’. The same survey saw 31 per cent say they plan to cut the number of properties they rent out, compared with just nine per cent who plan to increase the number of properties to let.
The findings are supported by recent Rightmove data which indicates that 50,000 properties are needed to bring the supply of rental homes back to pre-pandemic levels.
Ben Beadle, Chief Executive of the NRLA said: “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.
“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.”
