The chief of a quick sale property firm has accused the government of regarding landlords as a low priority.
Matt Gerrish of the Sold service says the Renters Rights Act and tax rises announced in the Budget have hit landlords, with additional costs as they comply with new legislation.
“This year we have seen some of the biggest changes to the property sector in quite some time. While some reforms aim to protect tenants, many landlords – especially those with one or two properties – will struggle to adapt to the pace and scale of change.
“For some it will no longer stack up financially. The Labour government has made it clear that landlords are not a priority.
“Measures such as the effective end of Section 21, tougher rules around rent increases and higher compliance costs all point towards what feels like an increasingly anti-landlord agenda.
“What was once a thriving industry, with accessible investment and growth, is now a market that many want to get out of.”
Gerring claims that the latest English Private Landlord Survey and work by the Ministry of Housing, Communities and Local Government have found that many landlords are planning to decrease the number of properties they let – or even leave the sector altogether.
He claims that those who stay might struggle but can survive if they’re prepared.
He adds: “Landlords firstly need to make sure their properties are fully compliant. Next, they should review their finances carefully and consider whether their current portfolio still makes sense.
“That could mean refinancing or selling underperforming properties before further changes come into force in 2026.
“My advice to landlords is not to bury their heads in the sand. The third thing they should do is seek professional advice early to ensure they understand the new rules in detail and make proactive decisions now.
“Those who fail to adapt could find themselves squeezed out of the sector in the next 12 months.”
There are growing concerns that pushing too many small landlords out of the market could have unintended consequences on the tenants the measures were intended to protect.
Gerring concludes: “A reduction in rental housing stock risks driving up rents, increasing competition for homes and ultimately leaving tenants with fewer choices and less flexibility – particularly in areas where small landlords make up the bulk of the private rental sector.”
This article is taken from Landlord Today