Claims of a landlord exodus are ‘unfounded’

I have a property currently on the market that was never advertised to let. I bought it for a specific tenant some years ago. Now vacant its for sale as a direct result of the RRA. It will NOT be counted in the figures mentioned in the article. I sold another property last February that HAD been advertised to let. And my final flat will also be sold when the current tenants move out. Having the countries most expensive selective licence (Leicester £1290) does not help either. Renting out property is now far too risky. Well done Labour.

I’ve sold – end of story!

Looks like the landlord exodus is in full swing! I’m on it now. The thing is you can’t just sell up all your properties in one go as noone now wants to enter the market. So, people are selling, rental property is scarce, rents are increasing and yet there is no incentive to remain as a landlord. The little extra you can get over an investment means that it isn’t worth the hassle of all the paperwork and associated nonsense. I predict a real housing problem and it will be one made by the idiots in the last two governments. Gove and Osborne started the stupidity and the present government are no better.

I have sold, and enjoying the peace of mind, and the money of course. It has been a tale of death by a thousand cuts, with licences from councils who are only interested in exploiting “greedy” landlords, then loss of tax relief on interest, plus the prospect of having to spend thousands on energy saving mods, the threat of court if the tenants dont ventilate properties properly, and the new rules on evictions, meaning tenants have almost total control, and no incentive to keep paying the rent, plus the idiots want rent controls.
Thank heavens I have sold, and I’m surprised more landlords aren’t doing so. Lets face it, we are dinosaurs and will become extinct.

Of course there is a sell off. Look at the listings, in my area half are either tenanted or empty either the tenant has left or been s21ed. Social media in my area is full of people unable to find accommodation after their landlord has given notice. I personally have begun the sell off and I may have to s8 if they don’t leave naturally. And after saying all that I have never had as high a financial turnover, why am I leaving ? RRA and the oncoming epc nightmare. This is purely a government inspired disaster for tenants !

Do these figures even include those on the market via auction only? LL’s are trying to sell with T in situ through this route, and when vacant possession is gained also through this mechanism. These don’t show up if they are only looking at estate agent listings…

Many of the small, self-managed private landlords who are the most likely to sell up do not advertise on the large portals like Rightmove, Zoopla or OTM. They are more likely to use private platforms like Spareroom and Openrent, which are free to use with optional paid extras.
As Mark Twain might have said: “There are three kinds of lies: lies, damned lies, and The Renters’ Rights Act”.

How about in 6 months time they look at the increase in numbers of temp housing each council is now declaring? or the lack of rental accommodation available on the market in all areas? Ask the DWP about the decrease in the numbers declaring housing costs for private rental accommodation? The decrease in the numbers asking a council for help with deposits and first months rent because there are no private LL;’s now willing to offer benefit tenants a direct tenancy?

Tenants should be the ones telling the MP’s exactly what the ‘unintended consequences’ of the RRA are.

A case of talk to the government, as landlord’s aren’t listening….. we have tightened out belt and are being picky who we let to. We don’t care if we rejected 30 people to select the best one for our property. We only need one tenant, we don’t need to house the other 30. Not our problem.

Wait for the effect of the last minute S21s to roll through before counting your chickens!

Count the number of rental properties and compare year on year. I suspect that many landlords have over recent months kept their property empty while debating whether to sell or re-let.

Should actually be looking at the figure from 2018 when the Renters Reform Bill rose its head.
That started my exodus and all out now. And very much relieved to be out.