Agents hiking fees because of Renters Rights Act
Summary
A poll reported by Goodlord suggests many letting agents are increasing fees to landlords and facing higher compliance workloads following the Renters Rights Act. The article also says possession is becoming more difficult after the abolition of Section 21, with longer Section 8 processes and court delays adding to landlord and agent pressures.
Why it matters
Residential property surveyors involved in rental valuation, portfolio advice or landlord support should note the operational and compliance impacts of the Act on the private rented sector. Changes to possession processes, tenant vetting and agency costs may affect investment risk, yield assumptions and management expectations.
Key points
- 23% of landlords surveyed said lettings agency fees have increased since May
- 50% reported increased compliance work
- Section 21 has been abolished and Section 8 is now the only legal route to regain possession
- Landlords are responding with more cautious tenant vetting and greater focus on retention
- Goodlord also cites significant losses from tenancy fraud in the private rental sector
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
