Many small landlords are selling because:
- mortgate interest is now only partially deductible for tax
- S21 evictions are being stopped, meaning it will be impossible to kick out bad tenants; the courts are too backed up to actually enforce any evictions even when it's allowed anyway
- Onerous EPC rules coming in which will cost huge sums to rectify
- More and more registers, inspections and paperwork
At the same time, landlords have spent the last few years being jeered as being unethical - and many MNers haven't been shy to raise their voices about that.
The tiny minority of renters fortunate enough to be able to afford a deposit and mortgage might be happy; they will have a bit more choice and a slightly lower price. For other renters they are having real problems.
Shelter and other housing charities should be campaigning for more landlord friendly policies such as easier tenant evictions and restoring full mortgage interest deductions for tax if they want to improve housing availability on a large scale, but they won't because PR-wise it will be a nightmare as their changes will be seen to disadvantage individual tenants.
Yes, there are other factors too - large scale immigration; planning system broken; not enough housebuilding; more singletons/split families and fewer intergenerational families - but landlords selling up because of government policies and societal ostracism is a major cause.
I am not a landlord but have been in the past - there is no way I would become a new landlord in the current environment.
Those who called landlords rent-seeking scum or similar should feel ashamed.