‘Perfect storm’ to hit PRS this year, agent warns

A “perfect storm” of new laws and a strong sales market is set to hit the PRS, an agent has warned.

David McMaster, Associate Director of Lettings and Property Management for Aldreds (main picture), says “even more” landlords will leave the private rental sector this year.

The Renters’ Rights Bill and its ban on Section 21 ‘no fault’ evictions, as well as the prospect of getting a decent sale price, will tempt some investors to sell up, he argues.

Headline grabbing

He was responding to an attack on Shelter by another agent who accused the charity of ‘headline grabbing’ and attacking landlords unfairly.

David Votta, who is the owner of Votta Sales & Lettings and a former Propertymark ARLA President, highlighted a case taken up by Shelter and reported in the Mirror involving a family who say they were evicted five days before Christmas.

McMaster says: “This is nothing new, Shelter have always been anti-landlord.

“Unfortunately, the media and Government (in an attempt to win the votes of younger people who rent) are shortsightedly, demonising landlords.”

Feeling the heat

And many landlords are feeling the heat, he says.

“When will the general public wake up to the fact that landlords are not a public service? If the risk outweighs the reward landlords will invest elsewhere and who could blame them?” he asks.

The perfect storm is coming, The Renters’ Rights Act will do more damage than we can predict.”

“The perfect storm is coming, The Renters’ Rights Act will do more damage than we can predict, and a strong sales market will simply encourage even more landlords to leave the PRS.”