A committee of some of the most influential figures in the real estate industry is urging real estate agents to take advantage of the additional revenue the Renters Bill of Rights (RRB) will bring, rather than worrying about the damage it will cause them. He told them to embrace the opportunity.
The comments came from a panel discussion at The Negotiator Conference held at the Grosvenor House Hotel, featuring Anhalt Trueman, President of ARLA Propertymark, Ben Beadle, CEO of NRLA, JMW Commercial Litigation Partner David Smith and The Letting CEO Heidi Shackel took to the stage. hub. 
The real estate industry must now accept this and move forward. ”
All four agreed that the RRB was now a done deal and was not as bad as initially feared. NRLA Director Ben Beadle said: “The real estate industry now has to accept this problem and move on.”
Beadle added that while some landowners have exited the market, there has not been the mass exodus that was feared, and that green energy rules are far more of a concern.
great opportunity
The panel also felt that with the advent of RRBs and more rules for landlords to navigate, there is what The Lettings Hub's Heidi Shackel called “an incredible opportunity” to bring landlords back into control.
Shackel said 15% of landlords don't even know RRBs exist and will have a hard time dealing with them without guidance from letting agents.
However, she believes that the current three-tier management system may need to adapt to change, although it is possible that the additional management income will more than make up for the revenue lost due to the termination of fixed-term contracts and renewal fees. It suggests that there is a sex.
And, as legal expert David Smith of JMW Solicitors says, landlords are the ones most likely to be prosecuted if something goes wrong, so there's plenty of incentive for them to hand over control to agents. Dew.
additional income
Mr Smith suggested that the end of section 21 notices would also encourage landlords to hire property managers to manage their properties. He said the vetting process needs to be more rigorous, allowing agents to listen on the ground and potentially avoid problems with tenants before they occur.
Property Mark's Angarad Trueman added that acquiring and maintaining landlord positions on the new database is yet another potential revenue stream for agents.
