Landlords selling up are No.1 problem for tenants says NRLA

Landlords selling properties represent the single biggest threat to renters, latest data from the National Residential Landlords Association (NRLA) reveals today.

The Government’s statutory homelessness statistics show that between July and December 2023 the end of private rented Assured Shorthold Tenancy (AST) was the most common reason for households being owed a homelessness prevention duty by their council, accounting for 27,090 households.

HOMELESSNESS

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.

Landlords selling properties is a leading cause of homelessness.”

Last month tenant 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 80% reported that demand for rental properties by tenants is ‘strong’.

But the same survey saw 30% said they plan to cut the number of properties they rent out, compared with just 9% who plan to increase the number of properties to let.

BIGGEST CHALLENGE

Ben Beadle, Chief Executive of the NRLA, 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.”

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.”