Third of landlords raise rents after RRA
Summary
Chestertons’ Quarterly Market Report suggests landlords responded to the first month of the Renters’ Rights Act by increasing initial asking rents, with more than a third raising prices and fewer cutting them in May 2026. The report also indicates tenant demand in London remained resilient, although applicants are taking longer to compare options and are submitting more enquiries before registering interest.
Why it matters
Surveyors involved in lettings, valuation and market commentary should note that the new legislative framework is already influencing pricing behaviour and tenant search patterns. This may affect rental evidence, market interpretation and advice on achievable asking rents, particularly in London.
Key points
- More than a third of landlords increased rents in the first month of the Renters’ Rights Act.
- Chestertons reported a 36% year-on-year increase in landlords lifting initial prices to test the market.
- Portal enquiries outnumbered tenant applications by 1.99x in May, above the previous six-month average of 1.61x.
- Landlords are reportedly setting higher initial asking rents because they can no longer accept over-asking offers.
- Demand in London remains resilient, but tenants are shopping around more and taking longer to decide.
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