Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Foxtons Reports Lettings Growth Linked to Renters Rights Act
A leading agency experiencing difficulties in the sales market says it is seeing benefits in lettings due to the Renters Rights Act. Foxtons has announced to shareholders that the Act has resulted in increased demand for property management services and continued growth in Build to Rent.
In its statement, Foxtons described the Renters Rights Act as creating a period of transition for the lettings sector. However, the agency noted that it is already observing encouraging early benefits from the legislation.
Foxtons specifically highlighted two areas of growth: a rise in demand for property management services and ongoing expansion in the Build to Rent sector. The agency did not provide further details or statistics in the announcement.
This development is relevant for UK letting agents and inventory clerks, as it suggests that legislative changes may be influencing demand for professional property management and related services.
Source: Letting Agent Today