The Intermediary – August 2026 - Flipbook - Page 31
BUY-TO-LET
Opinion
TO STOP
THE DRUM
retained as a key part of a balanced
investment portfolio.
It is also worth remembering that
not every landlord starts from the
same position.
Someone who has spent 20 years
building a property portfolio,
understands the regulatory
environment and views property
as a long-term business is likely
to approach today’s market rather
differently from somebody looking to
become a landlord.
International landlord buyers do
not dwell on advantages that have
been removed, while first-time
landlords oen continue to see clear
opportunities in property investment.
We oen talk about landlords as
though they are one homogeneous
group, when in reality, their
motivations, experience and
ambitions can be very different.
The market is not disappearing.
It may simply be becoming more
concentrated around those who
have made the conscious decision to
remain invested.
Changing, not disappearing
The supply and demand picture tells
a similarly balanced story. The latest
RICS UK Residential Survey found
that tenant demand strengthened
to a net balance of +18% in June, the
I have never been
entirely convinced by the
idea that we can explain
everything through
the lens of one Act of
Parliament”
strongest reading since May 2025,
while landlord instructions remained
subdued at -18%, highlighting that the
shortage of rental property continues
to underpin the market.
Zoopla’s latest Rental Market Report
reaches much the same conclusion,
with the number of homes available
to rent still between 20% and 30%
below pre-pandemic levels across
every region of Great Britain, despite
demand cooling from the exceptional
highs seen immediately aer
Covid-19.
That should not really come as a
surprise because the shortage of homes
to rent was not caused by the Renters’
Rights Act, and it will not end because
of it either. Housing supply has been
one of the defining challenges facing
the sector for years. That is why I
have never been entirely convinced
by the idea that we can explain
everything through the lens of one
Act of Parliament. Housing supply,
affordability, planning, interest
rates, taxation and demographics all
shape landlord behaviour alongside
regulation. Legislation undoubtedly
influences decision-making, but it is
only ever one element within a wider
investment strategy.
Raising standards
Good legislation does not
automatically create good landlords.
Equally, a bad landlord will still be
a bad landlord. Professionalism has
always been about mindset as much
as regulation.
The landlords who invest for the
long term, maintain their properties,
communicate openly with tenants
and treat their portfolios as genuine
businesses were doing those things
before the Renters’ Rights Act arrived,
and I suspect they will continue doing
so. If anything, the legislation should
encourage the rest of the industry to
raise standards alongside them.
Research by the TDS Charitable
Foundation found that only 32% of
tenants had both heard of the Renters’
Rights Act and understood, either
fully or partly, what it was about. That
underlines just how much education
is still needed, not only for tenants but
for everyone involved in the PRS.
The most productive conversations
should now centre on how we support
those who remain, encouraging
responsible investment in a private
rented sector that works beer for
landlords and tenants alike.
The debate about whether the
Renters’ Rights Act should exist is
behind us. The challenge now is
making sure the market adapts,
flourishes and remains sustainable for
the long term. ●
August 2026 | The Intermediary
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