Four months after the Renters’ Rights Act came into force, we’re starting to build a clearer picture of how landlords are responding to the new regulatory environment.
Before implementation, Paragon surveyed over 500 landlord customers to understand their expectations, concerns, and likely response to the reforms. More recently, our Landlord Trends research, conducted by Pegasus Insight on Paragon’s behalf, has provided an indication of how those expectations compare with landlords’ experiences under the new rules.
From the broker side, MAB is seeing a similar picture. Despite the most significant shake-up to the private rented sector in a generation, buy-to-let lending activity has held up. Between May and August 2026, MAB wrote 6,790 buy-to-let mortgages, totalling over £1bn in lending. Volumes have softened slightly compared to the same period last year, but the continued scale of activity suggests landlords are adapting to the new landscape rather than stepping back from the market.
The findings suggest that while implementation has brought new operational challenges, landlords are largely adapting their businesses rather than fundamentally changing direction.
One of the clearest themes to emerge is a continued focus on reducing potential problems. Ahead of commencement, more than 80% of landlords expected the reforms to make them more selective about the tenants they let to, while around three quarters anticipated becoming more cautious about where and how they advertised properties.
Those expectations were driven largely by concerns around possession. More than four in 10 landlords identified the risk of becoming stuck with problematic tenants as the most significant consequence of removing Section 21, while others pointed to delays to an already stretched court system.
While it remains relatively early in the implementation process, findings from our latest Landlord Trends research suggest that some of the concerns landlords highlighted before commencement have now shifted from questions and considerations to practical operational realities.
More than six in 10 landlords reported experiencing challenges implementing the Act. Increased administration and uncertainty around the new notice requirements were most common, while concerns about eviction processes continue. Although ushering in some of the most significant changes to the sector in decades, there is little evidence that the reforms have significantly altered lender appetite for writing buy-to-let business.
Ahead of implementation, questions were raised about how some of the changes could affect underwriting. Brokers asked whether the move from fixed-term tenancies to periodic arrangements could increase tenant turnover and, in turn, the likelihood of landlords’ finances being hit by voids.
Put simply, Paragon hasn’t changed its approach to underwriting buy-to-let mortgages because of the Renters’ Rights Act, and we’re not seeing evidence of widespread changes elsewhere in the market.
Continued strong demand for good quality rental homes provides an important level of resilience, reducing the risk associated with shorter-term tenancy turnover, and helping landlords to re-let properties when vacancies arise. For many larger scale landlords, any void periods are also absorbed across wider portfolios with multiple sources of rental income. As a result, the focus remains on the overall strength of the landlord’s proposition, portfolio and long-term strategy, rather than any single aspect of the new legislation.
For brokers, this reinforces the importance of understanding how clients are adapting their businesses, rather than focusing solely on the legislative changes themselves.
Rachel Geddes, Strategic Lender Relationship Director, Mortgage Advice Bureau, said: "Four months on, the conversations we're having with landlords have shifted - it's less 'what does the Act actually say' and more 'what does this mean for how I run things going forward?'. Increased administration and the new notice requirements are the practical, day-to-day frustrations landlords are telling us about, but the bigger conversation is usually about the whole portfolio: is the current structure still right, does financing need to work harder, and where does this fit into their plans for the next few years?
"The landlords who are adapting well tend to be the ones who saw this as a moment to review their whole approach, not just react to one piece of legislation. That's where advice earns its keep, helping landlords step back from the immediate admin and look at the bigger picture."
As compliance requirements continue to evolve, there is an opportunity for brokers to add value through portfolio planning discussions, financing improvements where required, and helping landlords assess how regulatory change may influence future investment decisions.
One reason the Act may not be having the negative impact on the sector that some (including landlords themselves) predicted, is that the reforms appear to be accelerating a shift that was already underway.
The private rented sector (PRS) has been becoming progressively more professional for many years, driven by regulation, taxation changes, and evolving tenant expectations. The Renters’ Rights Act appears to be reinforcing that, encouraging landlords to strengthen compliance processes, adopt more structured approaches to risk, and place additional emphasis on operational resilience.
While it remains too early to draw definitive conclusions, the picture emerging after four months is not one of widespread market disruption.
Paragon’s latest Landlord Trends research found that 69% of landlords believed the Renters’ Rights Act would have a negative impact on their own lettings’ activity but, tellingly, this had fallen from 76% before implementation. While concerns about the impact on the wider PRS remain high, the reduction in negative sentiment among individual landlords suggests some of the apprehension seen before commencement has eased as they gain experience of operating under the new framework.
Landlords are adapting to a more regulated operating environment, lenders continue to focus on long-term portfolio strength rather than short-term legislative change, and robust tenant demand for good quality rental homes remains central to buy-to-let investment.
“A more regulated market, steady lender appetite, and strong tenant demand all point to buy-to-let remaining a sound long-term investment,” Rachel adds. “That said, landlords now need to make more decisions, more carefully, than they did a few years ago. It’s exactly why advice matters more now, not less.
“The landlords who come through periods of change like this in the strongest position are usually the ones who've had someone helping them think a few steps ahead, rather than just reacting to each change as it lands. That's the role we as brokers want to play for every landlord we work with, whatever stage of their journey they're at."
As landlords continue to adapt to the Renters' Rights Act and an evolving regulatory landscape, having the right advice matters more than ever. Whatever stage of the buy-to-let journey you or your clients are at - a first rental purchase, growing an established portfolio, or navigating an unexpected move into letting - MAB's specialist buy-to-let advisers can help find the right mortgage for their circumstances.
