Some 57% of landlords do not feel prepared for the introduction of the Renters Rights Act, with many looking to their letting agent for guidance.
That’s the claim from Dwelly, a PropTech platform that also operates a small number of minor lettings agencies.
The platform’s survey of landlords in England found that half feel they are not very prepared for the introduction of the new legislation, with a further 7% admitting they are not at all prepared. Just 15% say they feel very well prepared, while 27% describe themselves as only somewhat prepared.
When asked which parts of the legislation they felt least prepared for, the top concerns were the abolition of Section 21, rules on tenants keeping pets, the creation of a national landlord register, the move to periodic tenancies, and stricter notice period and rent increase limits.
When asked how they plan to approach these changes to compliance, 42% of landlords said they would rely on their letting agent to advise and manage the process on their behalf.
However, only 23% said their agent had already provided clear guidance and a plan of action, while 31% had received some initial communication, but almost half (46%) said they had received no communication at all.
Most landlords (71%) believe that the government’s decision to stagger the rollout of the Act will make compliance easier to manage.
A Dwelly spokesperson says: “While this legislation has been on the radar for years, the constant back-and-forth has made it difficult for the industry to gain clarity, let alone individual landlords.
“What is clear is that landlords are increasingly looking to their letting agents for support, and those agents will be key to ensuring a smooth transition. This puts an emphasis on operational efficiency, as agents will need to go beyond the day-to-day to provide clarity, guidance and proactive communication.”
This article is taken from Landlord Today