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.
Renters' Rights Act drives surge in rent guarantor demand
Landlord Today reports that the Renters' Rights Act has led to a "phenomenal" surge in the use of rent guarantors.
The report links this trend to a provision of the Act: landlords are now restricted to taking no more than one month's rent upfront.
What this means for agents
For letting agents and inventory clerks, the reported rise in guarantor arrangements is a shift in how tenancies are being secured under the new rules. Agents can read the original article for the full details behind the reported surge.
Source: Landlord Today