Landlord Exodus or Strategy Shift?
Why the Drop in Tenant-in-Situ Sales Isn't a Landlord Exodus, It’s a Smart Strategy Shift
The headlines love to talk about a "mass landlord exodus," but the latest data tells a completely different story. It isn't that landlords are fleeing the buy-to-let market in droves; rather, they are fundamentally changing their investment strategy. Recent research from Propoly reveals that the number of residential properties marketed for sale with tenants already in place has plummeted by 43.9% over the past two years—dropping from 12,423 to just 6,973 across Britain. At Evenmore Properties, we completely agree with the analysis of these figures. This sharp decline doesn't signal the end of property investment. Instead, it highlights a market where landlords are becoming highly selective, choosing to hit the reset button rather than inheriting unknown risks ahead of the Renters’ Rights Act.
A Change of Appetite, Not an Exit
With major regulatory reforms rewriting the rules of the private rented sector, possession processes are becoming more restrictive. As Propoly’s data shows, regional drops are significant with tenant-in-situ listings down 60% in the South East and over 53% across the Midlands and Yorkshire. Landlords are simply adapting. They recognise that entering a long-term tenancy agreement under the new legislation requires complete confidence in who is occupying their property. Buying a property with a tenant already inside means inheriting a history, a contract, and a vetting process that you had absolutely no control over. In today’s market, that is a gamble smart investors are no longer willing to take.
Redefining Vetting: Soft Credit Checks Before Viewings
The modern rental landscape requires absolute certainty from day one. That is why landlords are increasingly choosing to buy vacant properties, allowing them to partner with an expert agency to source and qualify their own tenants from scratch. Here at Evenmore Properties, we don't just wait for an application to uncover potential issues our proactive vetting starts before an applicant even walks through the door:
Pre-Viewing Soft Credit Checks: To protect your time, your property, and existing tenants, we can run a soft credit check on applicants before booking a viewing. This ensures we are only opening your doors to genuinely viable potential tenants.
Industry-Leading Rightmove Referencing: Once an applicant is selected, we leverage our partnership with Rightmove to conduct their rigorous, gold-standard referencing process. This includes comprehensive income verification, historical fraud prevention checks, and detailed background references from previous landlords and employers.
By managing the pipeline with this level of precision, we ensure you know exactly who is in your property, completely eliminating the guesswork associated with inherited tenancies.
Total Peace of Mind with Our Rent Guarantees
Even with the most robust tenant selection, we understand that the upcoming legislative changes mean landlords want extra layers of security. To completely take the anxiety out of the changing legal landscape, our premium Rent Guarantee packages back up our strict referencing process. If your tenant’s financial circumstances unexpectedly change, our guarantee ensures:
Consistent Cash Flow: Your monthly rental income is fully protected and paid, even if the tenant falls into arrears.
Legal Expenses Covered: Full coverage for legal costs associated with gaining possession of your property, handled entirely by experts.
End-to-End Management: We handle the disputes and mediation on your behalf, minimising your stress and protecting your yield.
The Bottom Line
The buy-to-let market isn't collapsing; it is professionalising. Success in this new era comes down to control, due diligence, and having the right team in your corner. By focusing on vacant possession and utilising our elite Rightmove referencing, pre-viewing checks, and rent protection services, you can continue to grow a secure, highly profitable property portfolio with total peace of mind.