Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
NRLA: Renters’ Rights Act May Make Landlords More Selective
The National Residential Landlords Association (NRLA) has raised concerns that the Renters’ Rights Act could make it more difficult for certain tenants to secure rental properties. According to the NRLA, renters with poor credit records, unpredictable earnings, or no one willing to act as a rent guarantor may face greater challenges in finding a home.
The NRLA has conducted research indicating that 78% of landlords said the Renters’ Rights Act was likely to make them more selective when choosing tenants. This suggests that landlords may increasingly favour applicants with stronger financial backgrounds or those able to provide a guarantor.
For UK letting agents and inventory clerks, these findings highlight a potential shift in the rental market. Agents may see increased scrutiny of tenant applications, particularly for those considered higher risk. Inventory clerks may also encounter changes in tenant turnover or the types of tenants entering the market.
The NRLA’s comments underline the importance for letting professionals to stay informed about legislative changes and their impact on tenant selection processes.
Source: Property118