Charity warns over increased reliance on guarantors under reforms

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Charity warns over increased reliance on guarantors under reforms

A charity has warned that guarantors could become a default requirement for low-income tenants following the ban on rent in advance.

In a guest blog post for Crisis, published by the TDS Charitable Foundation, it said landlords should not have to choose between managing risk and being accessible.

The comments come as the Renters’ Rights Act came into force on 1 May 2026.

Guarantor requirements can create barriers

According to the TDS Charitable Foundation, 91% of landlords who let to local authorities, including homeless households and people receiving benefits, report satisfaction in their role, compared with 63% of landlords overall.

Tenants receiving benefits are also 10% more likely to remain in their homes for three or more years, offering landlords more stable, long-term occupancy.

However, under the Renters’ Rights Act, landlords and letting agents can no longer accept rent in advance.

The charity says many tenants will welcome the change, but warns that guarantors could become the default alternative.

Dr Jennifer Harris, head of policy, research and social impact at the TDS Charitable Foundation, said: “The Renters’ Rights Act introduces a cap on upfront rent, a change many tenants will welcome, given that 17% of tenants nationally identify it as a barrier to accessing a home, according to the TDS Charitable Foundation’s national Voice of the Tenant survey.

“But if guarantors simply become the default replacement, the barrier doesn’t disappear, it shifts. People on lower incomes or with experience of homelessness are often unable to provide a guarantor, and our research shows guarantor requirements create real access barriers for around one in ten tenants.”

Clear communication to landlords

Dr Harris added that when asked what would encourage them to let to people moving out of homelessness, more than a third of landlords said a rent guarantee scheme would be their preferred incentive.

She said: “The message to landlords is clear: you don’t have to choose between managing risk and being accessible.”

The research also claims there is “no evidence of a mass landlord exodus”, but points to data showing that 20% of landlords letting to housing benefit tenants had sold at least one property. By 2025, that figure had risen to 37%.

The charity is urging the government to better understand what is driving landlord exits from the affordable end of the market, and is also calling for Local Housing Allowance (LHA) rates to be restored.

Dr Harris said: “In our Voice of the Landlord survey, a quarter of landlords said they felt unable to rent to people receiving benefits, and half cited the growing gap between LHA rates and market rents as a reason why. Restoring LHA rates to a level that reflects actual rents is therefore vital to protect the supply of affordable PRS housing.

“Clear communication to landlords about their Renters’ Rights Act obligations, along with ongoing monitoring of supply, will both be essential to prevent the Act from accelerating the very exits it is intended to prevent.”

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Tenants are renting for longer than planned

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Tenants are renting for longer than planned

Landlords are facing a tenant base that is staying put for longer, with new research showing many renters have remained in the sector far beyond their original plans.

LRG’s Spring 2026 Lettings Report, based on responses from 650 landlords and tenants, found that 60% of tenants in England and Wales are renting for longer than they expected.

Some 40% said they had been in the PRS for much longer than they had planned, while another 20% said it had been ‘somewhat longer’.

Just 1% of those surveyed have since bought a home.

Renting is the norm

Allison Thompson, the chief lettings officer at Leaders, which is part of LRG, said: “Renting for longer is no longer the exception – for a growing number of people it has quietly become the norm.

“What the data tells us is that most tenants have not chosen this; they have accepted it.

“And acceptance is not the same as satisfaction.”

She added: “The 32% who say they feel stuck and frustrated are a reminder that long-term renting works well when the home, the landlord and the price are right – and when tenants feel secure.”

Questions on periodic tenancies

Landlords appear divided, though not generally opposed, on whether the move to assured periodic tenancies will alter their approach to longer stays.

The survey found 42% of landlords said the change would make no difference to how willing they are to encourage tenants to remain long-term.

Another 15% said they would be more willing.

A further 15% said they would be less willing, while 29% were not yet sure.

Why tenants rent longer

The report points to rising house prices, stretched affordability and tighter mortgage access as reasons why tenants are remaining in rented homes rather than moving into ownership.

The length of time tenants spend in their current home also shows how settled many households have become.

The largest group (35%) have lived in their present property for one to two years.

However, 59% have been there for three years or more, including 23% who have stayed for more than a decade.

Only 5% said they had been in their current home for less than a year.

Tenant behaviour changing

The figures come as the Renters’ Rights Act moves the sector towards assured periodic tenancies which gives tenants the right to remain indefinitely.

For landlords, the data suggests the law is meeting a change already taking place in tenant behaviour, rather than creating it from scratch.

Among tenants who have rented longer than intended, 40% said they had accepted the position but still hoped to buy one day.

Another 23% said they had made peace with renting and that it now suited them.

However, 32% said they felt stuck and frustrated and only 4% said they had actively chosen to keep renting.

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Charity urges crackdown on letting agents

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Charity urges crackdown on letting agents

A charity has warned that renters are facing “rock-bottom service from letting agents”.

According to Citizens Advice, nearly half of renters (48%) who have dealt with a letting agent in the past three years experienced rule-breaking behaviour.

The charity is now calling for tougher regulation of letting agents, alongside stronger enforcement of existing rules.

Nobody should be left in dangerous conditions

Research by Citizens Advice reveals among renters with an emergency repair, such as a gas leak or unsafe wiring, more than two-thirds (68%) were left waiting more than 24 hours by their letting agent.

More than a quarter (27%) of renters with an emergency repair faced extra costs or higher bills as a result.

The data also reveals more than a quarter (29%) saw emergency or urgent repairs left totally unresolved.

Tom MacInnes, director of policy at Citizens Advice, said: “Private renters are forking out more than ever to put a roof over their heads, and in return they get a rock-bottom service from letting agents.

“Nobody should be left to live in dangerous conditions for days, have to fight for money they’re owed or be charged illegal fees. But our advisers are helping tenants with these kinds of problems regularly.”

Better regulation and tougher enforcement

The charity is now calling for the government to clamp down on letting agents, warning that failure to do so could undermine the progress made by the Renters’ Rights Act.

They argue the legislation should better protect tenants from issues such as disrepair.

Mr MacInnes said: “The new Renters’ Rights Act is a huge moment for private tenants, a reform Citizens Advice has long campaigned for.

“But this landmark legislation will only deliver its true potential if the government holds letting agents to account with better regulation and tougher enforcement of the existing rules.”

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Interest rate arbitrage explained

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Interest rate arbitrage explained

This week, I’m sharing two increasingly popular strategies that I use personally, but before I go any further, I should make it clear that the following reflects my own personal views and experiences. It is intended for general information purposes only and should not be regarded as financial or investment advice.

I also fully appreciate that the elements of one of the strategies discussed below may feel counterintuitive. This is because most property investors have spent years, sometimes decades, conditioning themselves to believe that lower gearing automatically equals lower risk.

I should also make it clear from the outset that I am naturally a cautious investor. While I managed to get comfortable with property and debt, I have never been comfortable with stock markets, cryptocurrencies, speculative trading, or investment classes such as gold and silver, where values can fluctuate dramatically. What I personally prefer these days are investments paying fixed quarterly coupon returns for fixed terms, where I can clearly understand the anticipated income profile, security position, and expected exit timeline before investing any money.

These types of investments do exist, including opportunities capable of producing the kinds of returns used in the illustration below, but many landlords have never heard much about them because they are not marketed to the general public in the same way as bank deposit accounts, ISAs, or mainstream investment products.

Under UK financial rules, many alternative fixed-income investments can generally only be promoted to High Net Worth Individuals and Sophisticated Investors. Broadly speaking, that means people with net assets of at least £250,000 excluding the value of their main home and pension fund. As a result, many of these opportunities operate quietly and are often only discovered via referrals from other experienced investors.

I will explain a couple of examples of the principle using the following simplified illustration.

A landlord with £3 million of equity generating £60,000 net annual income is effectively achieving a 2% return on equity before future capital growth is taken into account. That is the position many landlords now find themselves in: large property portfolios, low gearing, strong net worth, but relatively modest cashflow.

They continue to hold properties because they don’t know what to do for the best. Should they sell? If they do, what about CGT and the loss of future capital appreciation? Where would they reinvest the proceeds?

Some have considered retirement abroad or relocating to lower-tax jurisdictions such as Dubai, but remain undecided or feel tied to the UK due to family, lifestyle, or business considerations. There are often many other factors too, because no two people’s circumstances are ever exactly the same.

This is where an interest rate arbitrage strategy can become relevant. The principle is straightforward: borrow money at one rate of interest, invest it elsewhere at a higher rate of return, and retain the difference as additional cashflow. Banks and mortgage lenders operate this model as common practice.

A typical landlord example might involve refinancing part of a portfolio using a fixed-rate buy-to-let mortgage at 6%, then allocating part of the released capital into fixed-income investments paying higher coupon returns. The difference between the two rates can potentially create additional income generated from existing equity.

If £1,000,000 were borrowed at 6%, the annual interest cost would be £60,000. If the same £1,000,000 were allocated into investments paying fixed coupon returns of 10%, the gross annual income would be £100,000. The difference is therefore £40,000 per annum.

There are tax considerations, but let’s park that for now and focus entirely on the principles.

That £40,000 represents potential additional gross annual cashflow generated without increasing rents, buying more property, dealing with additional tenants, or taking on refurbishment projects. It is simply a different use of capital.

This strategy can be used both in the medium and long term. Some landlords simply want to buy themselves time before making decisions about selling properties. Others want to test alternative investments first, whilst still retaining most of their portfolio.

For many landlords, the issue is not a lack of wealth. The issue is that too much equity remains tied up inside property, producing relatively modest income returns compared to the amount of capital trapped within the portfolio. That often becomes more noticeable as portfolios mature, LTVs reduce, compliance costs rise, and retirement planning starts moving higher up the agenda.

The irony is that many landlords spend years trying to reduce gearing in pursuit of “safety”, whilst simultaneously trapping huge amounts of equity inside low-yielding assets producing relatively modest cashflow. In some cases, a carefully structured refinancing strategy can actually improve lifestyle flexibility, liquidity, and financial resilience rather than weaken it.

That does not mean that an interest-rate arbitrage strategy is suitable for everybody. It simply means there may be more options available than many landlords realise.

For landlords who have already released substantial cash sums, possibly from selling properties, there may well be other investment options that have not appeared on their radar yet.

Property118 consultants are familiar with the broader concepts discussed above and, where appropriate, may be able to help members identify suitable regulated professionals for further advice and guidance.

Most importantly, the objective of our consultancy meetings is not to pressure anybody into making investment decisions. The objective is to help landlords achieve clarity.

Sometimes that results in deciding to reduce exposure to property. Sometimes it results in refinancing and restructuring. Sometimes it results in taking no action at all, other than gaining reassurance that they are already on the right path.

The common factor is that landlords stop operating on autopilot.

If you have reached the stage where your portfolio has created substantial wealth but not necessarily the lifestyle, liquidity, or freedom you expected, perhaps it is time to start looking at the bigger picture.

LEARN MORE

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Landlords seek certainty as buy to let mortgage market shifts

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Landlords seek certainty as buy to let mortgage market shifts

Landlords are placing greater weight on certainty from lenders as rate movements, product withdrawals and shifting mortgage conditions continue to affect their buy to let decisions.

Landbay’s latest landlord survey found more than 80% of respondents now view the BTL market as unstable or unpredictable.

It found that 55.6% of landlords describe conditions as ‘somewhat unpredictable’ and 26.3% describing them as ‘highly volatile’.

The lender said the findings reflected disruption in March and April, particularly around rates and product availability, although landlords are still seeking funding and advice.

Landlords want BTL consistency

The lender’s sales and distribution director, Rob Stanton, said: “What comes through very clearly is landlords remain active and engaged with the market, but they are placing much greater value on certainty, consistency and communication from lenders and advisers.

“While rates remain incredibly important, landlords also want confidence that products will remain available, that cases will progress smoothly and they can rely on lenders to support them through periods of market volatility.”

He added: “It is also very telling that almost half of respondents have either completed or are currently progressing a mortgage despite the recent instability.

“Activity is still very much there, and advisers continue to play an incredibly important role in helping landlord borrowers navigate changing market conditions.”

Confidence accessing buy to let

Recent market conditions have already changed landlord behaviour for 35.3% who said they had reduced activity because of global events and rate movements.

Another 21.8% said they had delayed plans altogether.

Confidence has also taken a hit with 49.6%, said their confidence in accessing buy to let finance had worsened in recent months.

However, 45.1% said their confidence had remained unchanged, with Landbay saying landlords still appear to regard funding as available, even in a more unsettled market.

BTL availability is improving

Product choice remains a concern as 57.9%, describe current BTL product availability as ‘limited’, while 24.8% said it was ‘very limited’.

Landbay said availability had begun to improve in recent weeks, with lenders reintroducing products and pricing becoming more stable after the earlier spring disruption.

Landlord activity has continued despite the turbulence and almost half said they had either completed a BTL mortgage in the last month.

The survey found competitive pricing still matters most to landlords, with 66.2% naming rates as their key priority.

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The ability to adapt is the ability to succeed: landlording the smarter way

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The ability to adapt is the ability to succeed: landlording the smarter way

One month after the Renters’ Rights Act came into force, the landlord exodus has not materialised in quite the way many expected.

For many landlords, it’s not a simple stay-or-go decision. It’s about reviewing their portfolio, identifying higher-risk properties or tenancies, and planning ahead, selling those exposed to rent repayment orders, fines or licensing issues, while retaining stronger-performing assets.

Timing is everything, and landlords who have decided that now is the right time to scale down or retire are cashing in on their investments while they still can, and this is where Landlord Sales Agency comes in.

Whether you decide to sell all of your portfolio in one go or retain your best-performing properties while you see how the legislation plays out, we are entirely flexible to your needs.

At Landlord Sales Agency, like all the smartest landlords, we adapt our strategy according to the properties, the tenants and the owners’ priorities but as landlords, rather than property developers, our starting point is always to sell the properties as they stand for a fair market price unless it makes more sense to chase a better sales price.

And crucially, landlords can still get a great price close to vacant possession value without emptying the property first. 

We would only consider evicting tenants, refurbishing the properties and chasing full vacant possession prices if the extra money achieved was genuinely worth the additional time, cost, stress and risk involved.

Most landlords who contact us don’t want to gamble on spending thousands improving the properties only to find the market has shifted or the sale price doesn’t justify the upfront cost or ongoing risk.

Sellers come to us looking for a realistic balance between achieving a strong sale price and securing a fast, reliable sale that avoids months of uncertainty and potentially thousands of pounds in upfront costs paying mortgage interest, council tax, utilities and other costs associated with running vacant property for months, if not years.

One landlord that came to us for help in deciding strategy had a freehold property split into 4 flats in East Dulwich. Every flat was tenanted and the sale was further complicated by missing planning and tenancy documents. The gains from developing the property for maximum value was not worth the cost or risk to the owner. By winning the tenants’ cooperation, we were able to rectify the complications and market the flats to our network of over 30,000 private buyers and investors.

The vacant possession value of the 4 flats was £1.3M – we sold the entire block with tenants in situ as a turnkey investment in just 4 weeks for £1.15M and the owner collected rent right up to completion.

Another landlord had two properties – both with vacant possession but in poor condition and valued at £125K and £160K. With a potential value of £210K and £300K respectively, the potential gains worth clearly worth £40K investment but with the seller’s wealth tied into the properties, they were unable to realise the potential themselves or to pay the mortgage costs during the renovation.

In this case, in collaboration with the owner, our strategy was to renovate and sell properties in mint condition to owner occupiers for the best price possible.

We agreed an interest free loan to be paid back from the sale funds and arranged a trusted team of builders to complete the work.

Both properties sold for full market value just two weeks after the renovations were complete and after paying back our £80K refurb costs, £10K mortgage payments we paid, plus our fee for advancing funds, the landlord was over £90K better off.

So, if you’re a landlord looking to adapt, get in touch and we’ll help you plan your strategy.

We have an extensive private database of over 30,000 buyers who will buy your properties with or without tenants and get text messages to alert them to new properties every time a landlord comes to us to sell.

Our buyers are a mix of new landlords, investors and first-time buyers meaning that whether you’re selling with or without tenants, the properties will be snapped up. It also means that we’re able to get you’re the best possible price for the property.

Any company promising you 100% market value for a tenanted sale is hiding a huge list of costs that are going to come after the sale. That’s not the case with us. It’s one of the things that make us different, we are fiercely realistic and proudly transparent.

More landlords are recognising that this does not have to be an all-or-nothing decision when it comes to selling your portfolio and here at Landlord Sales Agency, we are here to help.

You have nothing to lose and everything to gain, fill out the form below.

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Council’s landlord licensing schemes begin after landlords lose legal fight

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Council’s landlord licensing schemes begin after landlords lose legal fight

Landlords in one town face new landlord licensing rules from this week after a court battle that went all the way to the Supreme Court – which the landlords lost.

Luton Borough Council will now introduce selective licensing in the town centre and Park Town areas, while additional licensing for HMOs will apply across the whole town.

The decision follows the Supreme Court’s refusal of an appeal by Luton Landlords and Letting Agents Limited, ending a long-running challenge to the council’s licensing plans.

The schemes will require licences for HMOs across Luton and certain single-tenancy homes in designated areas.

Defending landlord legal challenge

Councillor Alia Khan, the council’s portfolio holder for housing, said: “Successfully defending the legal challenge means we can now move forward and continue making meaningful improvements for residents across Luton.

“I believe that every resident deserves a safe, secure and comfortable home. That is not negotiable.

“These measures are an important part of our wider work to improve housing conditions and tackle issues that impact local neighbourhoods.”

She added: “Most landlords are responsible. But for the ones that aren’t this gives us the power to act.

“We do recognise the valuable role responsible landlords play and so have introduced an early bird period to support applications.”

Cost of landlord licenses

The council says that license application fees will range from £122 to £366, although landlords applying during the early bird period will pay £150.

It estimates set-up costs of up to £50,000, which it says will be recovered through licence fees.

Current mandatory licensing rules apply to HMOs with five or more households, but Luton’s new schemes will extend regulation further into the town’s private rent sector.

The additional licensing scheme will be introduced borough-wide within three months, while selective licensing will focus on areas where the council says particular property types require closer oversight.

Schemes will support powers

Landlords with eligible residential accommodation will need to apply for a licence for each property covered by the schemes.

To obtain a licence, they will have to meet specified standards and comply with conditions covering how homes are managed.

The council says the schemes will support its existing enforcement powers and help address poor property management, anti-social behaviour and environmental concerns.

There’s more information about Luton’s selective and additional licensing schemes on the council’s website.

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Government pushes action on overheating fears in social housing

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Government pushes action on overheating fears in social housing

The government has urged all social housing landlords to meet standards of thermal comfort in their properties.

In a written parliamentary question, Green MP Carla Denyer asked: “What assessment has the government made of the risk of overheating in social housing?”

The news comes after a group of tenants has threatened legal action against their housing association over excessive heat in their homes.

Social housing landlords need to follow Awaab’s law

Housing minister Matthew Pennycook confirmed all social housing landlords need to follow the rules under Awaab’s law.

He said: “All social homes should meet at least a minimum standard of thermal comfort.

“My Department made an assessment of subjective overheating through the English Housing Survey, which found that in 2024, 10.6% of social housing households reported at least one part of their home got uncomfortably hot.

“Awaab’s Law came into force in the social rented sector on 27 October 2025. As a result, all social landlords must repair all emergency hazards within 24 hours and fix dangerous damp and mould within fixed timescales.

“The next phase of Awaab’s Law will consider the application of requirements to a further set of Housing Health and Safety Rating System (HHSRS) hazards, including excess heat and excess cold.

“My Department has also laid new statutory guidance on the operation and enforcement of the Health and Housing Safety Rating System (HHSRS) before Parliament. This will come into force in June and will provide councils with a more intuitive means of assessing hazards in rented homes, including excess heat.”

Not fit for purpose

The news comes as, in what is believed to be the first case of its kind, residents living in flats managed by PA Housing in Woolwich, London, claim their homes are not fit for purpose, with indoor temperatures reaching 43°C during the summer.

A report by the BBC, reveals residents are planning to take action against their housing association, marking the first claim filed for excessive heat under the Homes (Fitness for Human Habitation) Act 2018.

A resident living in Canada Court and Clifton Lodge in Woolwich told the BBC the building was not fit for purpose.

Chris Sayudo, chair of the tenant association at Clifton Lodge and Canada Court, said the buildings’ corridors reached 48 degrees in the summer.

He told the BBC: “It’s a combination of problems; the build-up of heat in the building, because there’s no real ventilation, and the fact there are leaks in the cupboards and communal areas means there is a massive amount of mould.

“Not just in communal areas, but in our flats as well, because we don’t have ventilation. There’s a built-in new air ventilation system but it doesn’t do anything. It’s not effective.”

Michael McDonagh, chief executive of PA Housing, said the issue was mainly concentrated to communal intake cupboards rather than residents’ homes.

He told the BBC: “This is an issue that, we agree, needs to be addressed across the housing sector. Like most properties in the UK, Canada Court and Clifton Lodge were designed to keep heat in rather than keep them cool.

“However, when they were built, they met all relevant planning and building regulations at the time.

“All the same, we will be putting measures in place to monitor internal temperatures at both buildings as a way of understanding whether this is just an issue during excessive heat or throughout the year so we can support residents as much as we can.”

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“I should have done this two years ago” – what one landlord said after selling a problem property

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Property118

“I should have done this two years ago” – what one landlord said after selling a problem property

Not long ago, a landlord said something that will resonate with more Property118 readers than many might admit.

After completing the sale of one troublesome rental property, he paused and said: “I should have done this two years ago.”

He was not talking about a bad investment. The property had risen in value over time, rent had been collected, and on paper, it had seemed to him like a perfectly reasonable decision to keep it, but the real problem was different, that property had become draining.

The property that quietly consumed too much energy

Many landlords know the type, nothing catastrophic, just constant friction. A repair here, a tenant issue there, a delay with contractors, unexpected expense, another interruption while away for the weekend, and then another.

One property can sometimes create more mental load than several straightforward ones combined, and it was that which was the real issue.

Why he kept delaying the decision

Like many owners, he had good reasons for waiting. He thought values might rise further, he did not want the hassle of selling, he assumed the next year would be easier, and he constantly told himself it was “not that bad”. Those thoughts are common, and understandable, yet while he delayed, the property continued taking time, attention and enthusiasm.

What changed after the sale

Once sold, several things happened quickly. There was less distraction, more liquidity, more clarity about the rest of the portfolio, and perhaps most importantly, renewed enthusiasm for the properties he chose to keep. That last point is often overlooked. Selling a tiring asset can improve how the stronger remainder feels to own.

Why some landlords are making similar decisions now

Across many conversations, we hear from landlords who are not looking to sell everything. They are simply questioning whether every property still deserves its place.

Some choose to dispose of assets that are management-heavy, lower-yielding relative to equity tied up, geographically awkward, likely to need significant works and/or are no longer suited to current life priorities.

David Coughlin, director of Landlord Sales Agency, said: “As both a landlord and an agent, I’ve learned that 20% of properties often create 80% of the stress. The challenge is that they’re not always easy to part with, there may be long-standing tenants, mortgage penalties, refurbishment plans or simply the hope that things will improve.

“Many landlords aren’t looking to sell everything; they’re looking to remove the one or two properties that consume disproportionate amounts of time, money and mental energy.”

Waiting can carry its own cost

Many owners focus only on whether prices might rise, and that’s fair enough, but there are other costs to delay. For example; another repair cycle, another difficult tenancy, another year of avoidable hassle or another postponed wider plan. Those costs are real too.

The right sale can strengthen the rest

This is where many decisions become more intelligent, because sometimes one well-chosen disposal can reduce stress, release capital, improve focus, strengthen remaining holdings, and restore enjoyment of ownership. That can be far more valuable than simply holding everything indefinitely.

A conversation worth having?

If one property in your portfolio instantly comes to mind while reading this, there may be a reason.

These conversations are often most useful for established landlords who want calmer ownership, stronger control and decisions made proactively rather than reluctantly.

FREE 30-MINUTE CHAT VIA ZOOM

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Surge in demand for guarantors under Renters’ Rights Act

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Property118

Surge in demand for guarantors under Renters’ Rights Act

More than half of tenants could need a guarantor following the introduction of the Renters’ Rights Act, a deposit scheme claims.

Research by Zero Deposit suggests the proportion of local authority areas where tenants are likely to fail affordability checks could rise from one in five to almost one in two.

Under the act, landlords and agents can no longer accept large amounts of rent in advance.

Expect guarantors to become an increasingly common requirement

According to the data, average rents currently standing at £1,438 per month, equivalent to £17,256 per year, tenants would typically need to earn at least £43,140 annually in order to pass affordability checks.

However, average earnings across England currently sit at £41,859, leaving the average renter £1,281 below the required threshold.

Across England’s 288 local authority districts, tenants are likely to require a guarantor in 19.8% of locations due to average earnings failing to meet affordability requirements.

Sam Reynolds, CEO of Zero Deposit, said under the Renters’ Rights Act, landlords will seek greater financial protection, meaning more tenants will need a guarantor.

He said: “While the Renters’ Rights Act is designed to improve security for tenants, it also significantly changes the way landlords manage financial risk within the private rental sector. With restrictions on upfront rent payments and fewer traditional safeguards available, landlords and agents naturally place greater emphasis on affordability checks and income protection when assessing prospective tenants.

“As a result, we expect guarantors to become an increasingly common requirement for renters who fall outside standard affordability criteria, particularly younger tenants, overseas applicants, self-employed workers, and those moving to high-cost rental areas.”

Tenants may not have access to a suitable guarantor

Across England’s 288 local authority districts, tenants are likely to require a guarantor in 19.8% of locations due to average earnings failing to meet affordability requirements.

London is home to 22 local authority districts where average incomes fall below the affordability threshold, while the South East contains a further 21 such areas.

However, Zero Deposit warns many tenants may not have access to a suitable guarantor.

Mr Reynolds adds: “The challenge is that the traditional guarantor model is no longer practical for many renters. Not every tenant has access to a suitable guarantor, and even when one is available, the referencing and verification process can introduce delays at a point where rental properties move extremely quickly.”

According to the English Housing Survey, 21.5% of private renters pay more than one month’s rent in advance.

Zero Deposit claims that, with this option no longer available to landlords, many are expected to seek alternative forms of financial protection.

The deposit company suggests landlords could respond by increasing the affordability threshold from 2.5 times income to three times income.

If this becomes the new industry standard, Zero Deposit calculates that the proportion of local authority districts in which the average tenant fails affordability checks would rise from 19.8% to 47.6%, as average earnings in 137 local areas would fall below the required level.

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