Landlords have issued a stark warning over the health of Britain’s private rented sector as more and more property investors look set to sell up in the face of falling profits.
A wide-ranging study of almost 2,500 landlords by the Residential Landlords Association has found that a quarter of private landlords are looking to sell at least one property over the next year.
The more demand outweighs supply, the more expensive it will be for tenants, with experts forecasting a three per cent rise in rental costs every year for the next five years.
David Smith, policy director for the RLA, said: ‘All the talk of longer tenancies will mean nothing if the homes to rent on not there in the first place.
‘The Government’s tax increases on the sector are already making it difficult for tenants to find a place to live, with many landlords not renewing tenancies.