Renters (Reform) Bill is another nail in the coffin for landlords as they rush to exit the market

Renters (Reform) Bill is another nail in the coffin for landlords as they rush to exit the market

9:18 AM, 18th May 2023, About A year ago

Text Size

If landlords were rushing to sell their properties before, there’s certainly yet another reason to get out now. Following Prime Minister’s Questions earlier this week, the news hit landlords hard: a Renters (Reform) Bill is to go ahead. The changes to Section 21 will now mean it will be increasingly difficult to evict tenants without a fault.

Whilst this is great news for tenants, it’s devastating news for landlords, many of whom simply can’t afford to keep properties on as interest rates continue to soar. Recent enquiries from Property118 landlords showed that the biggest concern landlords were worried about was how they were going to sell properties without them being vacant. Why:

Firstly because not all properties might be sold to other landlords who wanted tenants, secondly because they believed they’d get a higher price and walk away with more profit if they sold to homeowners with vacant properties rather than new landlords, and thirdly because with tenants in situ, it’s impossible to do the essential refurbs many buy-to-lets need to get a price which counteracts the amount remaining on the mortgages.

To say this has spelt disaster for many landlords already under pressure is no exaggeration. The threat to landlords is that if they wait to sell, there’s a possibility they’ll lose money on their portfolios, however, if they sell now, there’s a chance that the best they’ll do is break even. There has to be a solution, so where do landlords turn?

Landlord Sales Agency really is the best solution for landlords right now. Unaffected by the changes, we’re able to sell entire or partial property portfolios no matter what condition, no matter what the tenant situation, to our database of over 30,000 private buyers who get notified of our deals via text message as soon as you get in touch with us to sell.

In fact, selling tenanted properties is where we excel the most, so there’s no need to worry about the Renters (Reform) Bill. We have a team of portfolio exit specialists who go above and beyond to sell tenanted properties.

We’re so confident we’ll get you a high price for all of your properties, fast, we have no problem helping tenants pay their current rents, pay off arrears, pay for them to relocate and in some cases, even pay their rent in advance for the next landlord who takes your property on. For very difficult cases, we’ve got the best relationships with local councils across the UK allowing us to get councils to pay rent for tenants, clear any outstanding funds they owe you and even have the councils pay off all their legal costs.

For houses with stubborn survey issues, we bring on board our entire building team and housing networks to resolve every single problem, ensuring that sales don’t fall out of bed, and that landlords like you don’t have to take a big drop in price.

So if you’re a landlord worried about how all these changes are going to affect you selling, there’s no need to panic. We’ll get your properties sold, fast, for the best possible price.

Get in touch today.

Contact Landlord Sales Agency

Share This Article

Landlord Tax Planning Book Now