Letting agents stand to lose a quarter of their income when the Renters’ Rights Bill becomes law, a new survey suggests.

In its annual poll of more than 2,750 agents, lettings management platform Goodlord found that on average, fees from tenancy renewals make up 27% of agency earnings.

The new rules governing the rental market are set to abolish fixed-term tenancies, which would put an end to these fees.

Goodlord warns the Bill, which is scheduled to receive Royal Assent in a matter of weeks, means “a revenue crisis could be on the horizon for a large number of agencies”.

In its annual State of the Lettings Industry report Goodlord also found that the majority of respondents do not feel prepared for the impact of the Renters’ Rights Bill.

Chief executive William Reeve says: “This year’s survey is our largest yet. 

“And the insights could not come at a more critical time. 

“The sector is under huge pressure on all fronts – tenants, landlords and agents alike are feeling the strain, with more changes and uncertainty still to come. 

“This is a resilient sector that’s used to weathering storms, but the pressure seems to be increasing rather than abating.”

Further findings from the survey will be released next week.