Awareness of the Renters’ Rights Act is rising steadily across the Private Rented Sector (PRS), a survey suggests.
A new Pegasus Insight report shows that 75% of landlords are now aware of the forthcoming legislation, an increase of 8% on the previous quarter.
Landlords with more that 20 properties are the most engaged (88% describe themselves as being ‘aware’ of the Act, including 28% ‘fully aware’).
Limited company landlords are close behind them (84% aware, 32% fully aware).
As understanding of the proposals grows, landlords are increasingly forming views on how the changes may affect their businesses.
Around three quarters expect the Act to have a negative impact on their lettings activity and 84% on the PRS more broadly, with concerns primarily focused on the operation of possession processes and the capacity of the courts to handle cases efficiently.
Mark Long, founder and director of Pegasus Insight, comments: “Many landlords recognise the intent behind the legislation, particularly in improving security and consistency for tenants.
“However, confidence in how it will operate in practice remains critical.
“With cases already taking an average of more than 50 weeks to be heard in the county courts, concerns about the effectiveness of possession processes are clearly front of mind.”
“There is also an important awareness gap to address.
“While three quarters of landlords are now familiar with the proposals, a significant minority remain less engaged, often smaller or long-established landlords who may not follow regulatory changes as closely as their larger counterparts.”
This article is taken from Landlord Today