Tenants Having To Move As Landlords Sell Up
Tenants Having To Move As Landlords Sell Up Due To Section 24
There seems to be evidence that landlords are selling their properties as their profits start to drop.
April saw the phasing out of mortgage relief.
Cover4LetProperty conducted a survey that found 11% of tenants moved on due to landlords selling the property they were living in.
Richard Burgess, director at Cover4LetProperty, said: “For the first time, we see that tenants are moving because landlords are selling up. While this could be simply due to landlords realising profits in their property, it could also be that increased legislation and fees are making it much more difficult for landlords to make a sustainable profit. Only time will tell if this trend continues.”