Tenants struggle to find new homes as rents rise

Fewer landlords and fewer PRS properties, at a time when the number of potential renters is rising, will obviously make it more difficult for people to find suitable properties to rent.

Some of the former PRS properties will be bought by owner-occupiers who would otherwise have chosen the PRS. Some may have been bought by new landlords (I’d suggest not very often) and others may have been switched to FHL.

The net effect is fewer homes in the PRS at a time when mass migration, coupled with an aging population, is providing unprecedented demand for homes.

Rents are reportedly stabilising. This is to be expected as interest rates have remained fairly constant for a year and official inflation figures are falling.

The unemployed are finding it difficult to find a home in the PRS? Well knock me down with a feather!

Landlords struggle to provide homes as costs and regulatory burdens rise, you don't say Sherlock.

Well there's a surprise!

Another expert who talks about the shortage as only being due to increased mortgage rates while choosing to ignore the other elephants in the room.
Increase taxes due to the introduction section 24, licensing costs, complience costs and the RRB which amongst other things means we loose the right to have our properties back even when we have to sell.
Perhaps the chickens are at last coming home to roost!

Reply to the comment left by Old Mrs Landlord at 22/05/2024 - 10:39
PCM rent for a three bed semi-detached from the council in our area, just over £800 PCM.

Cost of renting a three bed-semi detached house from the PRS in our area £2.5-3K PCM.

Discount available from the Council for council house tenants to buy their houses and rent out (apparently) 35%.

But I think your average former council house tenant with a mortgage would probably want to rent their house out to somebody who has a job.

In short, there are not enough properties for the number of people needing one. Not enough in the PRS (and for good, government-led reasons), not enough Social Housing and not enough affordable homes for people to buy.
Too many people, too few houses.
From what I see, houses are being built rather quickly (and often poorly).

Government policy is to force landlords out of the business, it’s working, so it’s the landlords to blame.

Plus the 'I' word. Massive imigration.

The headline should read tenants struggle to find new homes as successive Governments fail to build more homes for the people already in need and failed to plan for new homes in the future.
But no let's blame LL who provide a service that the Councils are unable to provide.

Reply to the comment left by Dickie Withers at 22/05/2024 - 20:06
It should also read successive governments fail to put measures in place that favour long-term tenancies that work for both landlord and tenant, i.e. there is reciprocity in the arrangement: Tenants have to pay the rent on time and in full, look after the property and get on with the neighbours; landlords need to provide a decent and safe home and charge fair market rents. Most landlords do this.

And it should read successive governments have penalised small-portfolio landlords, restricted tenants' choices of where they rent and driven up rents in the process.

Not landlords problem , simple answer is for the government of what ever color is to build more social housing simple.