The number of reluctant landlords in the private rented sector (PRS) has begun to decrease according to ARLA’s latest survey of Residential Investment Landlords, September 2013.

The report discovered that during Q3 2013 there was a 5% fall in the in the proportion of rental property coming onto the market because it cannot be sold. This also represents a significant drop (21%) from the same period in 2012 when 42% was recorded being rental property from reluctant landlords.

Ian Potter, Managing Director, ARLA, said: “Much has been written recently about the recovery of the residential sales market, and it would appear that these effects are now being felt in the private rented sector. While the departure of ‘accidental landlords’ from the sector will be a good thing for the individuals concerned, there is a real and ongoing worry about the level of rental properly supply across the country.”

Tenants are still faced with strong competition for rental homes with 52% of ARLA members stating that there were more tenants than properties available. The South East (excluding London) has the highest demand with 67% of tenants facing competition for a property whilst in London itself just 17% are now experiencing this trend.

Potter said: “With competition for the best properties remaining fierce, landlords and tenants alike can benefit hugely from seeking the advice of an ARLA agent. All ARLA licensed agents must adhere to a strict code of conduct, as well as offering client money protection and redress schemes, which protect all parties if things go wrong.”