Research by Paragon Bank, based on responses from more than 500 landlords, suggests that while political and media attention has ensured widespread awareness of the Renters’ Rights Act, clarity around its detail is still lacking.
According to the lender, 98% of landlords say they are aware of the Act. However, 73% report that they remain unsure about some or most aspects of the legislation. Just 26% believe they fully understand the detail.
Despite this uncertainty, three quarters say they feel broadly prepared to comply with the new rules. Even so, six in 10 acknowledge that they will require additional support to do so effectively.
Landlords most commonly cite the need for clearer explanations of how the rules will apply in day-to-day management, including compliance requirements and eviction processes.
There is also demand for updates as the legislation evolves, guidance on energy efficiency obligations and access to practical documentation such as tenancy agreement and notice templates.
SUPPORT REQUIREMENTS
Many respondents indicate that expert support will be important as the reforms bed in, whether through helplines, training sessions or webinars focused on adapting to the new framework.
In response, Paragon has launched a dedicated RRA Hub, designed to provide brokers and landlords with guides, checklists, insight and podcasts relating to the Act. The lender says the resource will be updated as further information is published and implementation progresses.
Lisa Steele (pictured), lending director of mortgages at Paragon Bank, said: “While it is encouraging to see such high awareness of the Renters’ Rights Act, our research shows many landlords are still grappling with how the changes will work on the ground.
“Landlords want to comply and continue providing good quality homes, but achieving this will depend on having clear, consistent and practical guidance. This is something Paragon is working to provide, having already set up a RRA hub on our website.
“Here, brokers and landlords can find a range of resources such as guides, checklists, expert insight and a podcast. This will be updated in line with the implementation of the Act and when more information is published by government.
“A well-functioning private rented sector depends on regulation that works for both tenants and landlords.
“Ensuring landlords fully understand their responsibilities will be critical to delivering the intended benefits of the reforms, while avoiding unintended consequences such as reduced supply or uncertainty among responsible investors.”
