A recent survey found that 57% of landlords do not feel prepared for the introduction of the Renters’ Rights Act, with many looking to their letting agents for guidance. This underscores the vital role agents will play in helping landlords navigate the transitional period – and beyond.
The Renters’ Rights Act marks one of the most significant overhauls of the private rented sector in decades. Among its major changes, it will abolish Section 21 evictions, introduce a national landlord register, and replace fixed-term tenancies with periodic agreements, alongside new rules on rent increases, notice periods, and property standards.
The survey of more than 930 landlords in England, which was commissioned by Dwelly, found that half feel they are not very prepared for the introduction of the new legislation, with a further 7% admitting they are not at all prepared. Just 15% say they feel very well prepared, while 27% describe themselves as only somewhat prepared.
When asked which parts of the legislation they felt least prepared for, the top concerns were the abolition of Section 21, rules on tenants keeping pets, the creation of a national landlord register, the move to periodic tenancies, and stricter notice period and rent increase limits.
When asked how they plan to approach these changes to compliance, 42% of landlords said they would rely on their letting agent to advise and manage the process on their behalf.
However, less than a quarter – 23% – said their agent had already provided clear guidance and a plan of action, while 31% had received some initial communication, but almost half (46%) said they had received no communication at all.
Most landlords (71%) believe that the government’s decision to stagger the rollout of the Act will make compliance easier to manage, but two-thirds (66%) say that official guidance has so far been unclear, particularly around timelines and practical requirements.
Sam Humphreys, head of M&A at Dwelly, commented: “It’s understandable that many landlords don’t yet feel properly prepared. While this legislation has been on the radar for years, the constant back-and-forth has made it difficult for the industry to gain clarity, let alone individual landlords. Even now, having gained Royal Assent, there’s still no concrete timeline for implementation.
“What is clear is that landlords are increasingly looking to their letting agents for support, and those agents will be key to ensuring a smooth transition. This puts an emphasis on operational efficiency, as agents will need to go beyond the day-to-day to provide clarity, guidance and proactive communication.
“At Dwelly, we’re already helping our agencies strengthen these capabilities – from process automation to compliance management – so they can confidently lead their landlords through the Renters’ Rights Act and demonstrate their value in a changing market.”
Read the orginal article: https://propertyindustryeye.com/more-than-half-of-landlords-unprepared-for-renters-rights-act-survey/?utm_source=rss&utm_medium=rss&utm_campaign=more-than-half-of-landlords-unprepared-for-renters-rights-act-survey
