Landlords “have to show flexibility on rents” as tenant reforms loom

Jeremy Leaf, a leading figure in the agency sector, has urged landlords to be more flexible on rents as the Renters’ Rights Bill nears becoming law. He warns that affordability is increasingly stretched for tenants, particularly those seeking smaller properties, and landlords who fail to adjust may face prolonged vacancies.

Recent data from the Office for National Statistics shows that average private rents rose 7.4% in the past year, reaching £1,335 per month. England recorded the highest average rent at £1,390, while Wales saw the sharpest percentage increase at 8.7%. Scotland and Northern Ireland also experienced notable rises.

Experts, including Tom Bill of Knight Frank, caution that while the bill aims to help tenants, it may inadvertently reduce rental supply, keeping rents historically high. Nathan Emerson of Propertymark stresses the urgent need to increase rental supply, given the UK’s growing population and persistent demand.