75% of landlords aware of Renters’ Rights Act

Three-quarters of landlords are now aware of the Renters’ Rights Act as the first phase of the legislation approaches its implementation from 1 May, researchers have found.

The figures from Pegasus Insight’s Landlord Trends survey show that 75% of landlords say they are aware of the reforms, a rise of 8% on the previous quarter.

Among landlords with more than 20 properties, awareness is higher at 88%, including 28% who say they are fully aware.

Limited company landlords are close behind, with 84% aware and 32% fully aware.

Smaller and long-established landlords report lower levels of awareness and are less likely to track regulatory changes in detail.

Landlords are planning

The firm‘s founder and director, Mark Long, said: “The level of awareness we’re now seeing means the Renters’ Rights Act is no longer a future consideration for most landlords, it’s becoming part of how they assess risk and plan ahead.

“Many landlords recognise the intent behind the legislation, particularly in improving security and consistency for tenants.”

He added: “However, confidence in how it will operate in practice remains critical.

“With cases already taking an average of more than 50 weeks to be heard in the county courts, concerns about the effectiveness of possession processes are clearly front of mind.”

RRA’s negative effect

As familiarity builds, expectations are shifting with around three-quarters of landlords saying the Act will have a negative effect on their lettings activity.

However, 84% expect a negative impact on the PRS more widely.

Mr Long said: “There is also an important awareness gap to address.

“While three-quarters of landlords are now familiar with the proposals, a significant minority remain less engaged, often smaller or long-established landlords who may not follow regulatory changes as closely as their larger counterparts.

“That creates an opportunity for brokers and other intermediaries to play a greater role in keeping landlords informed, particularly where financing conversations provide a natural point of contact.”