Renters’ Rights Act comment – Dr Neil Cobbold
“Reapit welcomes the clarity Royal Assent of the Renters’ Rights Act will bring to the private rented sector. Letting agents finally have certainty on what will change, but also tremendous opportunity to prove their value to landlords and tenants.
“The latest English Private Landlord Survey shows that only 4% of landlords are engaged in that role full-time, while around 45% own just one rental property. What that tells you is that many landlords are small-scale, part-time or self-managing. They will need professional support from agents more than ever to adapt to what is the biggest change to the private rented sector in decades.
“It’s equally important to understand that this isn’t a “everything changes tomorrow” moment. Some of the key provisions – for example the new landlord portal, ombudsman and extension of the Decent Homes Standard to private rented homes – will be phased in over time, with some coming into force only in the mid-2030s. This gives everyone time to adapt.
“Reapit’s message to agents is simple: the value you bring will only rise with the compliance and knowledge burden the Act places on managing rentals. Those part-time landlords who make up the majority of the sector will struggle to cope alone as the regulatory demands increase, so agents who can position themselves as trusted and strategic advisers will become the partners of choice for landlords across England. At Reapit we’re ready to support agencies across the country with the tools and insight they need to lead the market.”
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