While 98% of landlords are aware of the forthcoming Renters’ Rights Act, most remain unsure about how the changes will work in practice, Paragon reveals.
Data from Paragon’s survey of over 500 landlords found that 73% of landlords say they are still unsure about some or most aspects of the act, while 26% believe they fully understand the detail.
Paragon says this highlights the need for clearer guidance and targeted support as the reforms come into force.
Although three quarters of landlords feel broadly prepared to comply with the new rules, six in 10 acknowledge they will need additional help to do so effectively.
Most commonly, landlords would like clear explanations of how the rules will apply day-to-day, as well as compliance and eviction processes.
There is also strong demand for updates on how the legislation may evolve, guidance on energy efficiency requirements and access to usable templates for tenancy agreements and notices.
Many landlords also see value in having access to expert advice, whether through helplines, training sessions or webinars focused on how to adapt to the new framework.
To support landlords and brokers with information relating to their requirements under the Renters’ Rights Act, Paragon has launched a dedicated RRA Hub to provide guides, insight and podcasts.
Paragon lending director of mortgages Lisa Steele says: “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.”