Agents win new business as Renters Rights Act intimidates landlords
Summary
Pegasus Insight research indicates that use of letting agents has risen to a two-year high, with 66% of rental properties now using an agent for some or all of the letting process. The increase is being driven mainly by demand for full management services as landlords respond to a more complex regulatory environment, including the Renters Rights Act and wider compliance pressures.
Why it matters
For residential property surveyors, the article signals continued change in the private rented sector, with more landlords relying on professional management and compliance support. This may affect landlord behaviour, portfolio management expectations and the wider operational context for rental property inspections and advice.
Key points
- 66% of rental properties now use a letting agent, the highest level in two years
- Full management services have increased to 25% of rental properties
- Landlords self-managing properties spend far more time on administration than those using full management
- The Renters Rights Act and changing compliance requirements are cited as key drivers
- Larger portfolio landlords are not necessarily more likely to outsource management
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
