Renters Rights Act has helped our business, claims leading agency
Summary
Foxtons says the Renters’ Rights Act is already supporting its lettings business, with stronger demand for property management services, Build to Rent growth and increased cross-selling of ancillary landlord and tenant services. At the same time, the company reports continued weakness in sales and has reduced costs to reflect lower transaction volumes, while calling for Stamp Duty reform to support home moving.
Why it matters
The article highlights how rental market regulation can shift demand toward professional management and recurring lettings services, which is relevant to surveyors involved in landlord, agency and portfolio work. It also underscores the ongoing impact of weak sales activity and transaction taxes on market volumes, which can affect valuation assumptions and instructions.
Key points
- Foxtons says the Renters’ Rights Act is increasing demand for property management services.
- Build to Rent revenue rose 29% and ancillary landlord and tenant services rose 17%.
- Cross-sell of property management services increased by 10%.
- The company reports significant sales-market weakness and has delivered cost savings through rightsizing.
- Foxtons is urging Stamp Duty reform to help stimulate home moving.
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
