Nearly half of tenants have little to no knowledge of the upcoming Renters Rights Bill, according to research by Pegasus Insights.
The mortgage market specialists surveyed 3,000 tenants and found 43% were “slightly aware” or “not aware at all” of the regulation and how this would impact them.
Only 32% of those surveyed were “fully aware” or “mostly aware” with only 20% “somewhat aware”.
Tenants were also asked as to how they expected the Bill to impact them.
Most tenants - 44% - expect this to have a positive impact for them, with 19% expecting none. Only 6% anticipate a negative impact as a result.
However, 27% of tenants are expecting an increase in rents as a result of the Bill.
Pegasus Insights founder and director Mark Long (pictured above), said the results were evidence that tenants should be better educated about the new legislation and how this could impact them.
In particular, he highlighted tenants’ fears about rising rents may be inadequate, citing other Pegasus Insights research that found 62% of landlords were looking to raise rents as a result of the Bill.
“While the government is holding fast to its claim that the Renters Rights Bill will not force landlords out of the Private Rented Sector, the fact that more than half (56%) of those who have given their tenants notice to quit plan to sell the property, up from 37% a year ago, is surely significant,” said Mark.
“Again, tenant concerns that the Bill will lead to a reduced supply of properties appear well-founded.”
