Foxtons plans to capture Renters’ Rights Act opportunities
The agency's CEO Guy Gittins says as a "professional, high-quality agent" it can attract more landlord clients and acquire smaller agencies under pressure from the Act.
Foxtons sees the Renters’ Rights Act as an opportunity to gather more landlord clients and acquire smaller businesses.
Chief Executive Guy Gittins (pictured) says “significant growth opportunities” are created by the Act, and Foxtons plans to “capture them”.
Rescued by lettings
Last month, Foxtons reported group revenue up 5% to £172.5million, however operating profit only rose marginally and was rescued by lettings.
The London-based agency’s profit was £22.2million in 2025 up slightly from £22.1million the previous year.
“Recurring lettings revenues enabled us to maintain adjusted operating profit despite a volatile sales market,” Gittins said.
We are already seeing how the reforms create significant growth opportunities for Foxtons, and we are positioning the business to capture them.”
Now, Gittins explains in the group’s annual report how Foxtons sees the business developing.
“We are already seeing how the reforms create significant growth opportunities for Foxtons, and we are positioning the business to capture them,” he says.
“The legislation increases the importance of working with a professional, high-quality agent who can ensure compliance and protect landlords from the risk of fines or rental repayment orders.
“With more than half of landlords self-managing their properties, there is a clear potential for increased agent usage and, consequently, a larger total addressable market for Foxtons.”
Significant pressure
He goes on to say: “In addition, the structural changes introduced by the legislation will further benefit the Group.
“We are already seeing increased uptake of high-margin property management and ancillary services, a trend we expect to continue.
“The reforms will also place significant pressure on smaller independent agents, given the rising investment required in people, processes and compliance.
This is expected to accelerate sector consolidation.”
“This is expected to accelerate sector consolidation and presents market share opportunities for Foxtons by leveraging our brand strength and operational capabilities.”
In January, Foxtons acquired Birmingham independent lettings agent FleetMilne for £3.2million in a significant step outside the South East for the first time.
