Agents accused of staging “inverse bidding wars”
Summary
The article reports allegations that some letting agents and landlords are using inflated advertised rents and encouraging offers below asking price to work around the Renters Rights Act’s ban on rental bidding wars. It also raises concerns that some are seeking large upfront payments for bills despite the move to rolling tenancies under the new regime.
Why it matters
This is relevant to residential property surveyors because it reflects changing lettings practices and regulatory risk in the rental market, particularly in London. Surveyors involved in valuation, rental advice or landlord instructions may need to be alert to how new tenancy rules are affecting pricing and compliance behaviour.
Key points
- Allegations of “inverse bidding wars” involve advertising rents above market level and then accepting lower offers.
- The practice is presented as a possible workaround to the Renters Rights Act’s bidding war ban.
- Some landlords are reportedly asking for one-off upfront payments for bills covering an uncertain tenancy period.
- Shelter warns that loopholes could allow landlords to continue imposing excessive costs on tenants.
- The issue is centred on lettings market conduct and rental reform in London.
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
