Insurance News Archive
Landlords respond to new regulations by 'selling-up'
Almost half of landlords who possess multiple occupation houses are selling their properties rather than having to comply with new regulations.
According to the Royal Institution of Chartered Surveyors (Rics), almost a third of letting agents say that landlords are responding to the new rules by selling their properties.
It is also believed that a sixth of all landlords are also renovating their properties to avoid licensing issues.
A spokesperson for Rics, Jeremy Leaf, said that the situation would help to cut down on what he referred to as "rogue landlords" but would cause problems by "reducing the number of properties available".
"The student and immigrant population may be hit hard as accommodation becomes less accessible in university towns and urban areas," he added.
28 Sep 2006