One in eight prime London lets are exempt from Renters Rights Act
Summary
LonRes data suggests the prime London rental market remained broadly steady in June, with a small annual fall in lets agreed, higher new instructions and more stock available. Average rents rose modestly, and the article notes that tenancies with annual rent above £100,000 are Common Law tenancies and therefore exempt from the Renters Rights Act, with this segment accounting for nearly one in eight prime London lets so far in 2026.
Why it matters
Surveyors involved in rental valuation and market commentary should note the continued stabilisation in prime London rents and the potential for regulatory exemptions to affect market comparables. The Renters Rights Act may also influence how rental evidence is interpreted, particularly in higher-value stock where exemptions apply.
Key points
- Lets agreed in prime London fell 1.1% year on year in June.
- New rental instructions rose 11.4% and available stock was 19.1% higher than a year earlier.
- Average rents increased 2.4% annually, after six months of falls.
- Tenancies above £100,000 annual rent are Common Law tenancies and exempt from the Renters Rights Act.
- Almost 1 in 8 prime London lets so far in 2026 were above the exemption threshold.
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