Landlords Selling up Growing Challenge for Tenants

The number of households in the private rented sector at risk of homelessness due to landlords selling up has increased by a third since the end of last year.

The analysis by the National Residential Landlords Association (NRLA) highlights the need to encourage responsible landlords to stay in the market.

According to government data, between October and December 2023, 5,400 households in the private rented sector in England qualified for council support to prevent homelessness after their landlord decided to sell the property. The most recent data shows that between April and June 2024, this number had increased to 7,130 households.

The figures show that selling a property is the single biggest reason for a landlord to end a tenancy, and almost three times bigger than the next most common reason.

Whilst the Renters’ Rights Bill will increase the time before a landlord can sell a property, the NRLA argues that more needs to be done to encourage responsible landlords to keep rental properties in the first place.

Government data shows that a third of landlords (31 per cent) are planning to sell properties they rent out in the next two years, up from 22 per cent. In contrast, just 7 per cent say they are planning to provide new homes to rent in the next two years, compared with 11 per cent in 2021.

It comes as an average of 21 people are chasing every available home to rent.

The NRLA is calling on the Government to reform the way rented housing is taxed to support and encourage the supply of new, decent quality homes on the market.

Alongside this, responsible landlords need confidence that when ‘no fault’ repossessions end, legitimate possession cases will be processed far more swiftly by the courts than at present. The NRLA is therefore calling on the Government to publish a clear plan to improve what the Housing Minister accepts is a court system “on its knees.”

Ben Beadle, Chief Executive of the National Residential Landlords Association, said:

“Right across the country it is tenants who are suffering as landlords decide to sell up. No amount of changing the rules about when landlords can sell will address the central problem in the rental market, namely a chronic shortage of homes to meet demand.

“What tenants need is greater choice. That means encouraging and supporting the vast majority of responsible landlords to stay and continue to provide decent quality housing.”

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Estate Agent Talk

Is it finally time for lenders to back green homes?

Andrew Smith weighs the risks and rewards Property developers are increasingly pitching green homes to lenders; however, with sales cycles slowing down and repair costs rising, is now the right time to back sustainable builds and at what price point is there market demand? Sustainability is continuing to shape our future of construction with the…
Read More
new build homes colchester essex
Breaking News

UK Housebuilding Falters as Construction Hiring Flatlines

New research from Inventory Base reveals that UK construction industry employment has increased by almost 11% in the past five years, but there has been less than 1% growth in the past 12 months. Inventory Base’s analysis of the UK construction industry shows that in 2024 (latest data available) it employed an estimated total of…
Read More
Estate Agent Talk

Making Small Office Spaces Feel Much Larger

Small offices can often seem tight, making it hard for employees to work comfortably. Not enough space may lower mood and affect how well people do their jobs. Good design choices, though, help any small workspace feel bigger, brighter, and easy to move around in. How a space is perceived can often influence comfort and…
Read More
Planning disputes on new build land
Breaking News

£2.7bn in Development Opportunities Across England

The latest research by specialist property finance lender, West One Loans, has shown that there are currently £2.7 billion worth of development opportunities in the current market, with the South West home to the highest proportion of potential plots available for developers to capitalise on. West One Loans analysed current land, plot, and site listings…
Read More
Breaking News

Stabilising the property market ahead of Autumn Budget

As she prepares the October Budget, Daniel Austin, CEO and co-founder at ASK Partners writes this letter to urge the Chancellor to take decisive action now to stabilise the property market and build long-term economic resilience. Despite cautious optimism around initiatives such as Help to Buy and planning reform, the market remains stagnant amid persistent…
Read More
Estate Agent Talk

Fresh water property hotspots outperforming wider market

Fresh water property hotspots see house prices climb at almost three times the national average The latest research from leading estate agent Yopa has found that house prices in areas surrounding the UK’s lakes, lochs, and reservoirs have grown at nearly three times the national average over the last year, with the annual rate of…
Read More