The news provider noted that this could mean that over half a million homes are put up for sale in the coming 12 months by BTL landlords alone.
When asked why they were thinking of exiting the market, many cited tax increases and reforms to rules relating to bedroom sizes, the licensing of homes of multiple occupation (HMOs) and the ban on charging tenants administration fees.
Ten per cent also said that rising rental costs were to blame for their decision, while five per cent cited the economic uncertainty in the UK.
Despite the fact that 26 per cent are planning to offload at least some of their portfolio in the coming 12 months, 52 per cent of landlords are hopeful that their rental yields will improve next year.
The news provider noted that if you’re intending to sell a BTL property that it’s important to make sure you understand all the rules relating to selling a rental property, especially if you still have tenants in place, as well as to be up to date on the latest regulations regarding capital gains tax.
Whether these properties will be snapped up by other BTL investors or buyers looking to get on the property ladder remains to be seen.
Earlier this year, we revealed that the demand for rental properties in the UK is booming, with figures from Paragon showing that tenant demand increased in the third quarter of 2019.
Want some help managing your BTL portfolio in the new year? Speak to letting agents in Retford to find out how they could help.