Tenants Unaware of Renters’ Rights Bill

It seems a whopping 43% of tenants are in the dark about the Renters’ Rights Bill (RRB), according to Pegasus Insight's latest Tenant Trends report.

While 32% of tenants are clued up on the RRB, a significant chunk remains blissfully unaware or only slightly informed.

The report reveals mixed feelings about the Bill's impact. While 13% of tenants anticipate a significant positive change, 31% foresee only a slight improvement. However, 19% expect no impact, and 31% are left scratching their heads in uncertainty.

The RRB promises better living standards, more security with the ban on no-fault evictions, and rent increase limits. Yet, concerns loom large over reduced property supply and potential rent hikes, with 27% of tenants bracing for higher rents.

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Interestingly, two-thirds of tenants plan to stay put at the end of their lease. Among those considering a move, personal reasons like relocating or upsizing/downscaling are the main drivers. Yet, 10% are forced to move due to landlords ending tenancies, often to sell the property or hike rents.

Mark Long of Pegasus Insight notes that a staggering 62% of landlords plan to offset potential losses from the RRB by raising rents. While the government insists the Bill won't push landlords out of the rental sector, the rising trend of landlords selling properties suggests otherwise.

So, as the RRB debate heats up, staying informed is key for tenants and landlords alike. After all, knowledge is power in the ever-evolving rental landscape!

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