Rental market ‘has lost thousands of properties’, landlord leader warns

Scottish landlord leaders warn there could be 22,000 fewer rental properties than a year ago, and more than half of owners plan to reduce their portfolio.

The Scottish Association of Landlords (SAL) says the biggest reasons for the drop is hostility towards landlords from government and politicians along with concerns over increased rental market regulation.

Respondents to a SAL survey withdrew an average of 6.4% of their properties from the sector last year.

Homes lost

Extending this figure across the whole of the PRS in Scotland suggests that around 21,760 homes (6.4% of 340,000 homes) could have been lost from the sector in the last year.

SAL believes the drop in the number of properties available is the single biggest factor contributing to rising rent levels in the PRS, and is a major factor in Scotland’s housing crisis.

The survey also suggests this is likely to continue into the future with more than half of landlords planning to reduce their portfolio size in the next five years.

These chickens are now coming home to roost.”

John Blackwood, CEO of SAL (main picture), says: “Landlords have been warning for the past few years that the combination of anti-landlord rhetoric along with short-term, ineffective policies are harming investment in private rented housing in Scotland.

“These chickens are now coming home to roost as landlords lose confidence and are choosing to exit the sector,” he says.

“This is reducing supply and driving up costs for tenants and causing significant harm.”

SAL members are involved in owning or managing approximately 159,300 properties in Scotland, 47% of the 340,000 properties in the Scottish PRS.

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