Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Landlords Respond to Renters’ Rights Act Changes
Research from Aviva has found that almost every landlord has changed the way they operate following the introduction of the Renters’ Rights Act reforms. According to the report, 94% of landlords have altered their business practices in response to the new legislation.
The changes made by landlords include adjustments such as spending on properties, rewriting agreements, and reviewing their entire approach to letting. The research also indicates that more than a third of landlords are considering leaving the sector altogether.
These findings highlight the significant impact of the Renters’ Rights Act on the UK private rented sector. Letting agents and inventory clerks may see changes in the way landlords manage their properties and agreements, as well as potential shifts in the number of landlords operating in the market.
Source: Property118