Letting industry professional association Propertymark has said that a quarter of a million households have been lost from the private rented sector since 2017 and links this huge loss, in part, to the growth in the short term holiday lets market.

Propertymark, a member of The Lettings Industry Council (in collaboration with which Propertymark published the report The Future of Renting in December last year) says that in the same period since 2017, the increase in holiday let properties has contributed to the increased pressures on the rental market and that policy makers in government must take this into account when formulating rental reform policy and associated new legislation.

Increased costs and legal obligations on landlords have made holiday rental more attractive to both new and existing landlords as that sector is more favourable in terms of both tax and regulation and, in effect, that this isn't a sustainable situation in an era where tenant demand outstrips supply.

The future of renting report made a number of recommendations to government which included creating a more balanced playing field between the short and long term lettings markets, improvements to the system of landlord property repossessions (including greater use of mediation in all cases excepting where evidence showed tenants could not afford to pay their rent) and where a landlord uses an agent, then the agent must be an accredited member of a professional body.