A recent study conducted by mortgage market specialist Pegasus Insight highlights that 43% of tenants have little to no knowledge about the Renters’ Rights Bill (RRB). The findings are part of the latest Tenant Trends report, which examines tenant awareness and perceptions surrounding the proposed legislation.
According to the report, just 32% of tenants described themselves as being ‘fully aware’ or ‘mostly aware’ of the bill’s contents. Meanwhile, 20% claimed to be ‘somewhat aware,’ meaning they understand the key points but remain unclear on specific details. However, a significant 43% of tenants admitted they are either ‘slightly aware’ or ‘not aware at all,’ with an additional 5% responding that they ‘don’t know.’
When tenants were asked about how the Renters’ Rights Bill might affect their renting experience, opinions varied. Only 13% anticipated that it would bring a significant positive impact, while 31% believed it would have a slight positive effect. On the other hand, 19% of tenants felt the bill would have no impact on their situation, 6% expected a negative outcome, and 31% were uncertain about what to expect.
This data underscores varying levels of awareness and uncertainty among tenants regarding the potential impact of the RRB on their lives.
The Renters’ Rights Bill (RRB) has sparked mixed reactions among tenants, with some positive expectations and notable concerns. Many tenants view the proposed ban on no-fault evictions, improved living standards, and stricter limits on rent increases as the most beneficial aspects of the bill. However, fears about potential downsides persist, with worries that the legislation could lead to fewer available rental properties and higher rents. In fact, 27% of tenants surveyed anticipate that their rent will rise if the bill is enacted.
The research also highlights tenant plans regarding future moves. According to the findings, two-thirds of tenants intend to stay in their current property after their existing tenancy agreement expires. Among those planning or considering a move, personal factors are the primary drivers. Some renters (32%) want to relocate to a different area, while others (26%) are seeking a home that better suits their space requirements, whether larger or smaller. Additionally, 24% aim to transition from renting to home ownership.
This combination of cautious optimism and concern reflects the varied perspectives tenants hold about the potential impact of the Renters’ Rights Bill on the housing market.
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