Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Renters' Rights Act linked to landlord exits and record room rents
Tenants are facing the fallout from the Renters' Rights Act, with landlords leaving the market and rents rising, according to new research reported by Property118.
SpareRoom claims that, since the Act came into force, room rents have reached record highs while supply has dwindled.
What the research says
Data from SpareRoom shows that 78% of landlords in England have no confidence in the rental market following the introduction of the Act. The research, as reported by Property118, points to landlords exiting the sector and a shrinking supply of available rooms, alongside rising rents for tenants seeking shared accommodation.
What this means for agents and clerks
For letting agents and inventory clerks, the reported trends point to a shifting market. A reduction in landlord supply, combined with rising rents, could affect the volume and nature of lettings work, from tenancy set-ups to inventory and check-out instructions. Agents may also find themselves managing client expectations as tenants face higher room rents in a market with fewer available properties.
The findings come as the Renters' Rights Act continues to reshape the private rented sector in England. Property118's report suggests the legislation has coincided with a loss of landlord confidence, though the full picture of how the Act is affecting supply and rents remains a subject of ongoing debate across the industry.
The wider context
The SpareRoom data, as summarised in the Property118 report, is the latest research to link the Renters' Rights Act with changes in landlord behaviour. With room rents at record highs and supply dwindling, the report suggests tenants in the shared accommodation market are bearing the cost of a shrinking rental stock.
Letting agents and inventory clerks operating in England should keep an eye on further research and official data as the effects of the Act become clearer over time.
Source: Property118