The National Residential Landlords Association (NRLA) recently released a report showing that there has been an increase in the number of landlords who are planning to sell their rental properties. This is a concerning trend for the rental market, as it could lead to a shortage of rental properties and an increase in rental prices.
The NRLA report showed that the number of landlords who are planning to sell their rental properties has increased by 8% since last year. This is a significant increase, as it suggests that more landlords are choosing to exit the rental market. The report also found that the majority of landlords who are planning to sell their properties are those who own fewer than five properties.
The NRLA believes that this increase in landlords planning to sell their properties is due to a combination of factors. These include the increasing cost of maintaining rental properties, the increasing cost of insurance, and the uncertainty caused by the coronavirus pandemic.
The NRLA report also found that landlords who are planning to sell their properties are more likely to be located in areas with higher rental prices. This suggests that landlords in these areas may be looking to capitalize on the higher rental prices by selling their properties.
The NRLA is concerned about the implications of this trend for the rental market. They believe that it could lead to a shortage of rental properties, which could cause rental prices to increase. This could have a negative impact on tenants, as it would make it more difficult for them to find affordable housing.
The NRLA is calling on the government to take action to ensure that landlords are supported and that tenants have access to affordable housing. They have suggested a number of measures, such as increasing tax relief for landlords and providing financial support for those who are struggling with their rental costs.
The NRLA report shows that there has been an increase in the number of landlords who are planning to sell their rental properties. This could have a negative impact on the rental market, as it could lead to a shortage of rental properties and an increase in rental prices. The NRLA is calling on the government to take action to ensure that landlords are supported and that tenants have access to affordable housing.