A survey by national estate agency blue-chip LSL has uncovered a huge knowledge gap in landlords’ understanding of what effect the looming rentin reforms will have on their rental properties.

And over a quarter believe it will have no impact whatsoever and another quarter admitting they didn’t know enough about it to make a judgement.

As LSL points out, the RRB is set to bring some of the most significant changes to England’s private rental sector for a generation, including the abolition of Section 21 ‘no fault’ evictions, the introduction of periodic tenancies (and the ending of fixed term tenancies), a mandatory Property Portal registration, higher levels of expectation in property standards, and new rights for tenants to challenge unfair rent increases.

Shock findings

However, among landlords who self-manage their properties, the franchise group’s survey found that:

• 27% believe the renting reforms won’t impact their lettings significantly.
• 10% believe they won’t impact their lettings at all.
• 25% admit to not knowing enough about the bill to assess its impact.

LSL, though, sees this as an opportunity for their agents to tighten their relationship with landlords by educating them about the changes and helping them prepare for them.

Majority self-managed

The majority of rental homes are let out by landlords who manage them without the help of an agent and if they are not aware of the impact of measures –  such Section 13 rent increases – which will apply to all lets once the overnight switch to periodic assured tenancies takes place, they will find themselves with an increased administrative burden or, worse, end up in court.

LSL is therefore supporting its franchise partners and their landlords through the renting reforms as they happen, including running seminars and providing landlords with a comprehensive guide to the RRB, as well as providing regular updates via social media, websites and newsletters.

It’s not surprising that many Landlords aren’t fully engaged with the changes yet, especially since they are still some months ahead and may still change.”

Bannister says: “It’s not surprising that many Landlords aren’t fully engaged with the changes yet, especially since they are still some months ahead and may still change.

“However, there is a high level of preparation that can be done now, so that the impact is less overwhelming when it happens, because the legislation will require landlords to adapt quickly – on some matters, overnight – to new legal obligations. Lettings agents and industry experts will be more vital than ever in guiding landlords through this complex new landscape”.

“If agents communicate openly with landlord clients, they can help dispel myths and reassure them that when the new rules come into effect, their properties will be in safe hands”.