Two thirds of rental properties in England and Wales are now managed by letting agents, marking the highest proportion in two years, according to new research from the National Residential Landlords Association (NRLA).
The survey findings indicate landlords are increasingly turning to professional agents to navigate recent legislative changes, including the Renters’ Rights Act, and to prepare for further regulatory requirements.
Rising complexity drives demand
Ben Beadle, Chief Executive of the NRLA, stated: “As the rental market becomes more complex, reliance on letting agents is only likely to grow further.”
However, the association has warned that increased dependence on agents heightens risks associated with unqualified or poorly informed practitioners. The NRLA is calling on the Government to accelerate plans for minimum education and training standards across the sector.
Regulatory changes ahead
Estate and letting agents will be subject to a new code of practice later this year as part of a broader reform of the property sector. Mandatory qualifications are also planned, with a consultation scheduled for next year.
The reforms follow recommendations on regulation of property agents (RoPA) published by Lord Best in 2019. The implementation timeline has faced criticism for delays, particularly as the housing crisis continues to intensify.
Industry accountability concerns
Beadle emphasised that while landlords remain ultimately responsible for ensuring properties meet required standards, the growing reliance on agents necessitates stronger professional safeguards.
“With two thirds of rental properties now entrusted to some degree to the care of an agent, it is vital that they and their tenants can have confidence in the services that these letting agents provide,” he said.
He added: “While most agents provide a good service, too many do not. Minimum training standards would help ensure those working in the sector understand their responsibilities and can provide a consistently professional service.”
The NRLA has criticised the Government’s timeline, stating that “pledging yet another consultation next year is simply not good enough” and that “tenants, landlords and reputable letting agents deserve action now.”
The findings come as the rental sector faces increased scrutiny, with regulatory changes affecting both landlords and agents across the market.
