Half of agents more cautious about new tenants
Summary
The article reports that more than half of letting agents have become more cautious about recommending tenants since the Renters’ Rights Act came into force. Goodlord says this reflects landlord concerns around the end of Section 21, limits on rent in advance and restrictions on bidding above asking rent, with some landlords now more likely to reject applicants or leave properties vacant while waiting for lower-risk tenants.
Why it matters
This is relevant to surveyors because changes in landlord behaviour and tenant selection can affect rental market dynamics, void periods and investment appetite. It also signals how recent legislative change may be influencing market sentiment and the availability of rented housing.
Key points
- 51% of letting agents say they have tightened tenant recommendations since the Renters’ Rights Act.
- 26% of landlords are more likely to reject applicants they would previously have accepted.
- 31% of landlords would rather keep a property empty than accept a higher-risk tenant.
- Goodlord links the caution to the end of Section 21, rent-in-advance caps and bidding restrictions.
- Students, foreign nationals and applicants with non-traditional incomes are highlighted as potentially most affected.
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