17th
Jan 2025
David McMaster of an estate and lettings agency based in the South East anticipates a significant exit of landlords from the private rental sector this year.
He attributes this to the Renters’ Rights Bill, which bans Section 21 'no-fault' evictions, and the allure of higher property sales prices. McMaster argues that these factors will prompt many investors to sell their rental properties.
McMaster was responding to an agent's criticism of Shelter, accusing the charity of 'headline grabbing' and unfairly targeting landlords.
A former agent’s association’s President and now owning his estate agency, brought attention to a case highlighted by Shelter. The case, reported in the Mirror, involved a family claiming they were evicted five days before Christmas.
McMaster said: “This is nothing new, Shelter have always been anti-landlord.
“Unfortunately, the media and Government (in an attempt to win the votes of younger people who rent) are shortsightedly, demonising landlords.”
He says more and more landlords are under considerable pressure, he asks: “When will the general public wake up to the fact that landlords are not a public service? If the risk outweighs the reward landlords will invest elsewhere and who could blame them?”
“The perfect storm is coming, The Renters’ Rights Act will do more damage than we can predict, and a strong sales market will simply encourage even more landlords to leave the PRS.”
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