Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
One in Five Homes Lost from PRS as Small Landlords Struggle
More than 850,000 properties have exited the UK private rented sector (PRS) in the last decade, according to new data reported by Property118. Findings from TwentyEA indicate that one in five homes that were rented at some point in the past ten years have since been sold and not returned to the PRS.
The report highlights that small landlords are struggling, with the Renters’ Rights Act cited as a contributing factor. The loss of these properties from the PRS may have implications for letting agents and inventory clerks, as the available pool of rental homes continues to shrink.
The data underscores ongoing changes in the UK property market, particularly for those involved in property management and lettings. Letting agents and inventory professionals may need to adapt to a reduced supply of rental properties and shifting landlord dynamics.
Source: Property118