Research of more than 500 landlords conducted by Paragon Bank found that 98% of respondents knew about the Renters’ Rights Act.
However, although nearly all landlords were aware of the legislation, 73% said they were unsure of some or most of its aspects, and just 26% said they fully understood it.
Further, while around three-quarters claimed to be ready to comply with the act, around six in 10 said they would need help to do so.
Most respondents said they wanted clear explanations of how the rules would apply on a daily basis, as well as compliance and the eviction process. Landlords also expressed that they wanted updates on how the legislation might evolve, guidance on energy efficiency requirements and access to templates for tenancy agreements and notices.
Landlords also felt it was important to access expert advice, either through helplines, training sessions or informative webinars.
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Paragon has launched an RRA Hub to give brokers and landlords guidance on the Renters’ Rights Act with guides, insight and podcasts.
Lisa Steele, lending director of mortgages at Paragon Bank, said: “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 an 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.
“A well‑functioning private rented sector depends on regulation that works for both tenants and landlords. Ensuring landlords fully understand their responsibilities will be critical to delivering the intended benefits of the reforms, while avoiding unintended consequences such as reduced supply or uncertainty among responsible investors.”
