A survey by Goodlord has revealed a significant gap between letting agents’ perceived readiness for the Renters’ Rights Act and their practical capability to implement the reforms, raising concerns about the sector’s preparedness for upcoming legislative changes.
While 89% of letting agents surveyed said they feel prepared for the changes ahead, only 61% feel ready to manage eviction processes, one of the most significant operational shifts expected under the forthcoming legislation.
Industry concerns mount
A snap poll of letting agency leaders at a recent Goodlord Leaders’ Forum in central London found that 33% of respondents believe the Renters’ Rights Act will have a negative impact on their business. More concerning, 18% said they do not expect to still be working in lettings in five years’ time.
Tom Goodman, managing director at Goodlord, said: “While confidence levels appear high on the surface, the gap between perceived readiness and operational capability – particularly around complex areas like evictions – highlights a clear need for more support.”
Landlord exodus predicted
The research found that 82% of landlords expressed concern about the impact of the incoming legislation, with 44% reporting they are “very concerned”. Three quarters of landlords surveyed (75%) said regulation has made them less likely to grow their portfolios, with half (49%) planning to sell or reduce their stake in the market within the next twelve months.
Wider estimates suggest more than 200,000 properties could disappear from the rental market by the end of this year, adding to existing pressures in the UK housing market.
Tenant confusion persists
The survey also revealed that just 18% of tenants feel fully confident in their new rights as a renter, with 38% saying better information surrounding the Renters’ Rights Act would improve their renting experience.
Goodman added: “A strikingly small proportion of tenants are prepared to navigate the new system. This highlights a critical challenge for the private rented sector. Rights alone don’t improve outcomes. The RRA can only be effective if it’s understood, communicated and applied by all stakeholders in the private rented sector, including the tenants it was conceived to protect.”
The findings suggest that despite surface-level confidence, the private rented sector faces significant operational challenges in adapting to the new regulatory framework, with potential implications for buy-to-let market participants and the broader rental supply.
