Landlords owning just one rental property face a disproportionately higher exit risk as the Renters' Rights Act approaches.
The National Residential Landlords Association (NRLA) found that 38% of single-property landlords said they would be 'unlikely' or 'highly unlikely' to still be active in the PRS by the end of the year.
That compares with 21% of those with multiple properties, its Quarter 4 Landlord Eye survey found.
A separate question about readiness for the incoming reforms found 9% of single-property landlords didn’t expect to remain in the sector when the legislation takes effect, compared with just 1% of multi-property landlords.
By the final quarter of 2025, exit-related discussion among single-property landlords had more than doubled compared with the opening quarter of the year.
Tenant risk drives concern
The NRLA said: "For a landlord with one property, the risks attached to a single tenancy may feel especially acute.
"The removal of Section 21 may therefore carry particular weight for this group.
"Where larger landlords may be better able to absorb risk across a portfolio, smaller landlords can be more exposed to the consequences of one difficult tenancy."
It added: "That appears to be reflected in the language used in their exit-related comments."
A single-property landlord in London told the association: "It is a real drawback for an investor not to have control of a no-fault eviction.
"I want to sell up but I shall have to wait for the tenant to vacate the property voluntarily. This could, in theory, be years from now."
Why exits are being planned
A third of landlords in both groups who mentioned exit plans referenced the Renters' Rights Act.
However, single-property landlords were more likely to raise the problems of regaining possession and tenant relationships as specific concerns.
Multi-property landlords, by contrast, pointed more frequently to structural pressures such as tax liabilities and EPC requirements.
Comments from landlords who are quitting focused on tenancy management and possession risk as the RRA completed its passage through Parliament.
Sector concentration risk Across all four quarters of 2025, single-property landlords recorded slightly higher confidence scores on the NRLA's Landlord Confidence Index than those with larger portfolios, despite the direction of their exit intentions.
The NRLA attributes this partly to landlords planning their exit around the natural end of a tenancy rather than forcing a sale.
That 'wait-and-sell' pattern appeared in 22% of exit-related comments from single-property landlords, compared with 9% from multi-property landlords.
The NRLA warns that if smaller landlords continue feeling disproportionately unprotected, the sector may over time see more larger portfolio landlords.
Anti-landlord government rhetoric
That sentiment is echoed by a single property landlord in inner London who said: "New legislation, anti-landlord rhetoric from the government and very high-risk factors make the PRS no longer a viable occupation or investment.
"It is now way too stressful.
"I have only one rental property left and I'm hoping the tenants will leave willingly so that I can sell it."
They added: "It is breaking my heart, as I have never, in 32 years as a landlord, ever evicted any tenants."
Student landlords face a problem
Simon Thompson, the managing director of Accommodation for Students, said: "Student landlords, who typically operate one or two properties and rely heavily on fixed term lets, face a particularly acute transition under the Renters' Rights Act.
"They will see the abolition of fixed-term tenancies which removes the predictable end-dates that underpin the annual student rental cycle."
He added: "The shift to periodic tenancies means student landlords can no longer guarantee a property will be vacant in time for the next academic intake.
"That's a practical constraint that has no straightforward equivalent for professional or multi-property operators.
"Student landlords have historically depended on Section 21 to manage their lettings business; its removal therefore carries consequences that go beyond tenure reform and cut directly into the business model."
Mr Thompson went on to say that landlords with high tenant turnover may find the case for continuing to let to students increasingly difficult to make, and some will be deciding whether to sell.
