Research conducted for the National Residential Landlords Association (NRLA) indicates that letting agents are now involved in managing 66% of private rented homes across England and Wales. This marks the highest level recorded in at least two years, as landlords increasingly delegate responsibilities due to the growing complexity of rented property regulations.
The NRLA is calling on the government to introduce tighter regulation for letting agents to support both landlords and tenants. Ben Beadle, chief executive of the NRLA, stated that while landlords are ultimately responsible for property standards, it is crucial for them and their tenants to have confidence in the services provided by agents, especially as reliance on agents is expected to grow.
NRLA research also highlights a disparity in tenant satisfaction with repairs, showing that 59% of tenants in homes fully managed by an agent are satisfied, compared to 73% where the landlord fully manages the property. The association has warned that landlords seeking assistance with the Renters’ Rights Act and other regulations could face issues with unqualified or poorly informed agency staff. The NRLA advocates for minimum education and training standards within the sector, with Mr. Beadle stating that "Pledging yet another consultation next year is simply not good enough."