More than half of private landlords have lost rental income due to the Covid-19 pandemic, according to the National Residential Landlords Association.

The interim findings from the NRLA survey for the fourth quarter of 2020 found that 56 per cent of landlords had lost rental income as a result of the pandemic, with 12 per cent having lost more than 20 per cent of that income.

Of those who had lost rental income, 22 per cent had lost more than £5,000 and 59 per cent had lost more than £1,000, while 36 per cent said that the losses are continuing to increase.

The NRLA report also suggests that a third of landlords are more likely to leave the market entirely or sell some of their properties as a result of the pandemic.

NRLA chief executive Ben Beadle says: “Although most landlords have done everything they can to help tenants affected as a result of the pandemic, we have now reached the end of what they are able to do.

“Simply continuing to ban repossessions just means that tenants struggling to pay their rent are accumulating more debt reducing the chances that they will be able to pay it off. This ultimately will put more renters at risk of losing their homes.

“Ministers need to develop a proper plan to sustain tenancies and help the rental market recover. This needs to include a financial package to enable tenants to pay off any arrears built as a direct result of the pandemic.”