Editor's note: This brief was summarised by The Property AI Newsroom from a report by Landlord Today. Read the original article for full details.
Landlords Increasing Asking Rents After Renters Rights Act
Early evidence indicates that landlords are advertising properties at higher rents following the introduction of the Renters Rights Act. This is based on analysis by the lettings platform Hello Neighbour.
The report suggests that the increase in asking rents may be linked to the Act’s ban on bidding wars, where tenants previously competed by offering higher rents for desirable properties. Letting agents and inventory clerks may wish to monitor these developments as they could impact rental pricing and tenant demand.
Source: Landlord Today