Elliot Leigh sees 16% growth despite 31% of Landlords looking to sell

New data from the English Private Landlord Survey 2024 reveals a growing number of landlords are planning to sell their properties, raising concerns about the future of the private rental sector. A staggering 31% of landlords intend to sell some of their properties, while 16% plan to divest themselves of their entire portfolios. But why are so many landlords choosing to exit the market?

"For landlords with just one or two properties, the rental market has become tougher than ever to navigate," said Leigh Young, Director at Elliot Leigh. "I've spoken to so many landlords recently who are feeling overwhelmed by the growing compliance demands and the stress of chasing rent. With all the changes that have already happened and even more on the way including the Renters’ Rights Bill, it's no wonder landlords are struggling to keep up. Many landlords tell me it feels like managing their property has turned into a full-time job which they just don't have time for with 64% of landlords already being in employment."

The Sell-Off Dilemma

Faced with these mounting pressures, many landlords are grappling with a difficult decision: sell their investments and potentially lose out on long-term gains or continue struggling in an increasingly hostile market. This potential exodus of landlords could have serious consequences, including reduced rental stock, increased competition for tenants, and potential rent increases.

Sell or Switch? A Viable Alternative: Guaranteed Rent Schemes

But there is another way. Guaranteed Rent schemes offer landlords a solution for stability and peace of mind in these turbulent times. These schemes provide:

●     Guaranteed rental income, regardless of vacancies or rent arrears.

●     Comprehensive property management services, relieving landlords of administrative burdens and ensuring compliance with regulations.

●     Peace of mind, knowing their investment is protected and generating reliable income.

Elliot Leigh: A Trusted Partner

Established in 2003, Elliot Leigh has a proven track record in providing quality-oriented property management and Guaranteed Rent solutions. Elliot Leigh reported a 16% growth amidst market challenges. The company is partnered with over 50 local authorities and manages more than 1,600 properties, including 100 Houses in Multiple Occupation (HMOs). Over the years, Elliot Leigh have paid out more than £400 million to landlords while helping councils address the UK's social housing shortage.

Case Study: A Landlord's Success Story

Jay Chauhan, a landlord managing a single property in London, switched to Elliot Leigh's Guaranteed Rent Scheme in March 2024 after years of challenges with traditional letting.

"Before switching, I struggled with rent arrears and the constant pressure of managing inspections, gas certifications, and repairs," Jay explained. "I bought my property as a long-term investment, so selling wasn't an option, but the time required and financial strain was overwhelming."

“With the recent introduction of the Renters’ Rights Bill in parliament, my primary concern was the abolishment of Section 21. When I called the Procurement Manager, Stuart, he assured me that since my property is on a lease as part of the Guaranteed Rent Scheme, I would not be affected, which greatly put my mind at ease.”

With the added compliance demands of the Decent Homes Standard, Jay says the switch to Guaranteed Rent has enabled her to keep her property. "I cannot express how relieved I am. For the first time in years, I no longer need to worry about rent being paid on time or chasing tenants for payments. I can now budget confidently without relying on an overdraft to cover cost. Repairs are handled quickly, inspections are regular, and I can basically forget about it for a few years."

Conclusion

The private rental sector is facing unprecedented challenges, but there are solutions available for landlords’ seeking stability and peace of mind. Elliot Leigh’s Guaranteed Rent Scheme offers a viable alternative to selling, providing financial security, comprehensive property management, and compliance confidence.

Market Statistics

Statistics from the English Private Landlord Survey 2024; main report.