The Renters’ Rights Bill, introducing regulations around rental rates and increases, and currently working its way through Parliament, remains a concern, landlords told us in our latest Private Rented Sector Review. Along with other legislative concerns, increased tax burdens and higher interest rates, many landlords with smaller portfolios are questioning if staying in the Private Rented Sector (PRS) is worth it.
Of the 1,115 landlords that responded to our survey, 52% are considering selling all or some of their properties. Breaking it down further, of those thinking about selling:
89%
said changes or proposed changes in legislation or regulation are influential in the intention to sell
74%
said the level of returns after tax no longer makes operating in the PRS an attractive proposition (up 2%)
That said, the majority of full-time landlords that operate their properties as their primary source of income are not considering selling their properties (78% with three or more properties and 80% with six or more intend to stay in the PRS).