Why are landlords selling when rents are high?

There is an interesting comment in the latest survey of the rental market from the Royal Institution of Chartered Surveyors (Rics). The survey reports that demand for rental property continues to outpace supply as an increasing number of would-be first time buyers are forced to continue renting.

But it then mentions, almost as an aside, that ‘surveyors report that where tenancies are coming up for renewal, some landlords – particularly those in London and the South East – are now choosing to put their properties on the sales market, leaving fewer rental properties available.’ Given that rents are rising in the face of increased demand this is surprising.

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