Renters Rights Bill could mean more business for agents

The passage of the Renters Rights Bill into law, expected this spring, presents an opportunity for letting agents to win more business, a leading agency group claims.

The Property Franchise Group, which operates 15 brands and relies heavily on lettings for revenue, has told shareholders: “We anticipate the lettings business to continue to grow in 2025, with the upcoming Renters Reform Bill expected to provide an additional opportunity for the Group, given the tough compliance requirements, to convert more landlords to the managed property model.”

In a trading statement, TPFG says its lettings income has increased 8% over the past year to £10.7m – substantially ahead of its sales income which, despite a 15% annual hike, only hit £7.2m.

TPFG says 2024 has been “a transformational year” thanks to the merger with Belvoir Group and the acquisition of GPEA Limited, which operates the Guild of Property Professionals and the Fine & Country brand.

As a result of the Belvoir merger, TPFG now operates across 15 brands, managing a combined 153,000 rental properties, which it says equates to 3% of the UK private rental sector.

Read the full article at Letting Agent Today