>A small, individual landlord has no pricing power. They’re competing in a market against all others.
Unless there is a deficit of housing, then they don't have to compete because you pay their price or you live on the street.
With a housing crisis as in the UK the cost of housing rises to soak up everyone's income after other essentials (food, water, energy). Rents are higher than mortgages because you pay the landlord's mortgage, then pay the costs of leasing (such as the landlord's insurance and their property managers fees) and the landlord's profits. Very few want to rent, but most can't afford a mortgage (because 'I'm paying way more than that in rent' isn't proof you can pay a mortgage, apparently).
Unless there is a deficit of housing, then they don't have to compete because you pay their price or you live on the street.
With a housing crisis as in the UK the cost of housing rises to soak up everyone's income after other essentials (food, water, energy). Rents are higher than mortgages because you pay the landlord's mortgage, then pay the costs of leasing (such as the landlord's insurance and their property managers fees) and the landlord's profits. Very few want to rent, but most can't afford a mortgage (because 'I'm paying way more than that in rent' isn't proof you can pay a mortgage, apparently).