Four months after the Renters' Rights Act came into force, research from Paragon Bank and Mortgage Advice Bureau (MAB) is beginning to show how landlords are responding to the new regulatory environment.
Paragon surveyed over 500 landlord customers ahead of implementation to understand their expectations, concerns and likely responses to the reforms. Its subsequent Landlord Trends research, conducted by Pegasus Insight, has provided an early read on how those expectations compare with landlords' actual experience under the new rules.
From the broker side, MAB is seeing a similar picture. Between May and August 2026, MAB wrote 6,790 buy-to-let mortgages totalling over £1bn in lending. Volumes softened slightly compared to the same period in 2025, but the continued scale of activity suggests landlords are adapting to the new landscape rather than stepping back from the market.
The findings point to a sector working through new operational challenges rather than fundamentally changing direction.
One clear theme is a continued focus on tenant selection. Ahead of commencement, more than 80% of landlords expected the reforms to make them more selective about who 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, with more than four in ten landlords identifying the risk of becoming stuck with problematic tenants as the most significant consequence of removing Section 21. Others pointed to delays in an already stretched court system.
More than six in ten landlords reported experiencing challenges implementing the Act. Increased administration and uncertainty around the new notice requirements were the most commonly cited issues, while concerns about eviction processes continue.
On the lender side, appetite for buy-to-let business appears largely unchanged. Before implementation, questions were raised about how the shift from fixed-term tenancies to periodic arrangements might affect underwriting, with brokers asking whether increased tenant turnover could raise the likelihood of void periods hitting landlords' finances. Paragon said it had not changed its approach to buy-to-let underwriting as a result of the Act and had seen no evidence of widespread changes elsewhere in the market.
Continued strong demand for good quality rental homes is providing a degree of resilience, reducing risk associated with shorter-term tenancy turnover and helping landlords re-let properties when vacancies arise. For larger portfolio landlords, void periods are often absorbed across multiple rental income streams.
Paragon said its underwriting 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.
"Four months on, the conversations we're having with landlords have shifted," said Rachel Geddes, strategic lender relationship director at Mortgage Advice Bureau.
"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."
One reason the Act may not be having the negative impact some predicted is that the reforms appear to be accelerating a shift already underway. The private rented sector has been becoming progressively more professional for years, driven by regulation, taxation changes and evolving tenant expectations.
The Renters' Rights Act appears to be reinforcing that trend, encouraging landlords to strengthen compliance processes, adopt more structured approaches to risk and place greater emphasis on operational resilience.
Paragon's latest Landlord Trends research found that 69% of landlords believed the Act would have a negative impact on their own lettings activity, down from 76% before implementation. While concerns about the wider private rented sector remain elevated, the reduction in negative sentiment among individual landlords suggests some of the pre-commencement apprehension has eased as they gain experience operating under the new framework.
"A more regulated market, steady lender appetite, and strong tenant demand all point to buy-to-let remaining a sound long-term investment," Geddes added. "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."
