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News Article

"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

Agent Predicts 'Perfect Storm' for PRS Amid New Regulations and Surging Sales Market

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.


Image credit: iStock

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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"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

 

 

 


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Fit for Habitation|March 2019 The ACT is intended to define minimum standards a rental property MUST be and makes a clearer pathway way for Tenants to be compensated|https://www.pims.co.uk/fit_for_habitation_act_march_2019/ Guarantor|The person who provides a guarantee and promises to make payment good should the person responsible for the agreement fail|http://www.pims.co.uk/guarantors/ MEES|The Minimum Energy Efficiency Standard (MEES) Landlords are charged with the requirement to bring their rental property to a minimum EPC rating of E. Property with F and G rating will effectively be banned from the rental market April 2018 |http://www.pims.co.uk/epc/ Section 11|Section 11 of the Landlord and Tenant Act 1985 places an obligation on the landlord to maintain the structure and exterior of the property, including installations for the supply of water, gas and electricity, heating systems, drainage and sanitary appliances|http://www.pims.co.uk/landlord-section-11-repairs/ serving date|This date is the date deemed received at the property - as an example if posted allow for posting days|/serving-notice-on-a-tenant-delivery-days/ Tenancy Application|The objective of vetting is to empower yourself so you can make an informed decision as to the calibre of the prospective person. Making your decision on facts and figures is invaluable and this is why you should always take references. The application form also provides you with permission to perform credits. This form details all the information you should ever require deal with most eventualities including absconding tenants|http://www.pims.co.uk/doc/57/ Tenant Fees|From June 2019 where renting properties in England gone are the days of charging for admin, letting fees, vetting, references, inventory, check in, check out, cleaning, pet insurance or ANY other fee that is not explicitly permitted within the legislation. |https://www.pims.co.uk/ban_letting_fees_act_2019/