25% of PRS landlords looking to sell

To Let Sign

A quarter of private rented sector (PRS) landlords are looking to sell at least one property in the next year, a survey has revealed.

According to The Residential Landlords Association’s (RLA) quizzing of 2,500 landlords, over 25% are keen to offload property – the highest amount since way, way back in…2016.

The RLA’s research also found that 23% of the landlords have seen an increase in rental property demand over the last three months, while 57% noted no change.

David Smith, RLA policy director, said: ‘All the talk of longer tenancies will mean nothing if the homes to rent on not there in the first place.

‘The government’s tax increases on the sector are already making it difficult for tenants to find a place to live, with many landlords not renewing tenancies. If rushed and not thought through, planned changes to the way landlords can repossess properties risk making the situation even worse.

‘Action is needed to stimulate supply with pro-growth taxation and a process for repossessing homes that is fair to all.’

 

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