Tenant awareness of Renters’ Rights Bill remains low

Despite the media coverage and calls from tenant activist groups, research reveals that 43% of tenants admit to being ‘slightly aware’ or completely in the dark about the Renters’ Rights Bill.

And 5% of renters say they haven’t heard of it.

The findings from Pegasus Insight reveal that just 32% of renters are ‘fully aware’ or ‘mostly aware’ of what the legislation entails.

Another 20% grasp the gist but lack clarity on specifics.

Need to educate tenants

The founder and director of Pegasus Insight, Mark Long, said: “Our latest Tenant Trends research report suggests more needs to be done to educate renters about the new legislation set to be implemented by this Autumn, as a significant proportion of tenants know little to nothing about the imminent changes to their rights.

“In terms of the impact the Bill is likely to have on the market, the 27% of tenants who believe that rents will increase as a result look likely to have their fears borne out.

“In fact, responding to our Landlord Survey Q4 2024, 62% of landlords said they will look to recoup potential losses incurred as a result of the new legislation by putting rents up.”

He added: “While the government is holding fast to its claim that the RRB will not force landlords out of the private rented sector, the fact that more than half (56%) of those who have given their tenants notice to quit plan to sell the property, up from 37% a year ago, is surely significant.

“Again, tenant concerns that the Bill will lead to a reduced supply of properties appear well-founded.”

Tenant understanding and expectations

The survey reveals a broad spectrum of tenant understanding and expectations surrounding the Bill which could in place this summer.

The Tenant Trends report also asks tenants what their views are on how the Bill will affect their renting experience.

Optimism shines through for 13%, who see a major uplift, and 31% who anticipate a modest boost.

However, 19% expect no difference, 6% predict a downturn and 31% remain undecided.

Hopes hinge on enhanced living conditions, stronger tenancy stability with the end of no-fault evictions and curbs on escalating rents.

Anxieties also linger over shrinking property availability and climbing costs, with 27% bracing for a rent rise due to the Bill.

Most tenants to stay

The survey also highlights tenant plans post-tenancy with two-thirds saying that they aim to stay put, valuing continuity.

Around a third are expecting a shift, 32% will move to a new area and 26% want a larger or smaller home.

Apparently, 24% of tenants aspire to homeownership.

Meanwhile, 10% face upheaval as landlords terminate tenancies — 56% of these cases stem from property sales, which is up from 37% last year.

Another 22% are predicting rent rises, up from 12% and 16% say their landlord will reclaim their home.