Editor's note: This brief was summarised by The Property AI Team from a report by Landlord Today. Read the original article for full details.
One in Four Landlords Reject Tenants They Would Previously Accept
Choosing tenants has become harder since the Renters' Rights Act came into force, with one in four (26%) landlords now more likely to reject applicants they would previously have accepted. More than half (51%) of agents say they are more cautious when recommending applicants than last year.
The findings come from early results of Goodlord's 9th State of the Industry Report, which surveyed 3,000 agents, landlords and tenants.
Nearly a third (31%) of landlords would rather leave a property vacant while waiting for a lower-risk applicant.
For letting agents and inventory clerks, the figures point to a more selective approach to tenant selection under the Act. Agents report greater caution when putting applicants forward, and a notable share of landlords appear willing to accept a void period rather than take on a tenant they consider higher risk.
The early findings offer an initial snapshot of how the sector is adapting its applicant choices under the new legislation. The full State of the Industry Report is yet to be published.
Source: Landlord Today