The Renters’ Rights Act introduces a significant shift towards transparency in rental pricing — effectively bringing an end to rental bidding wars.
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No more rental bidding
Under the new rules, landlords and agents cannot invite, encourage, or accept offers above the advertised rent.
This means:
* No bidding wars between prospective tenants
* No “offers over” conversations
* No accepting higher amounts after strong interest is generated
The advertised rent must now represent the genuine asking price — effectively acting as the ceiling price for the tenancy.
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Mandatory price transparency
Every rental property must now be marketed with a clearly stated rental price.
The aim is to create a more transparent and consistent lettings process, ensuring all applicants are engaging on equal terms from the outset.
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What is still allowed?
Whilst offers above the advertised rent are prohibited, landlords are still permitted to accept offers below the asking price.
This provides flexibility where:
* Market conditions soften
* A quicker let is preferred
* A particularly strong tenant applies slightly below asking price
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Why this matters
This change places greater importance on accurate pricing strategy from day one.
For landlords, it means:
* There is less opportunity to “test the market” through competitive bidding
* The initial asking rent must be carefully considered
* Pricing needs to be evidence-based and aligned with current market conditions
Getting the launch price wrong could now mean either losing valuable enquiry levels or unintentionally underselling the property.
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Risks of non-compliance
Failure to follow the new rules could result in financial penalties and potential disputes.
Importantly, even informal conversations or implied encouragement of higher offers could potentially be interpreted as non-compliant under the legislation.
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Our approach
Successful pricing under the new framework will rely on accurate market knowledge, careful positioning, and compliant marketing processes.
As professional letting agents, we have real-time visibility of changing market conditions, applicant demand, and achieved rental levels across the local marketplace. This allows us to adapt pricing strategy and marketing approach quickly and effectively — helping landlords achieve the strongest possible rental outcome for their property whilst remaining fully compliant with the new legislation.
If you would like to talk to us about letting your property, book a scheduled call with us and we will be happy to help.
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In the next instalment of our Renters’ Rights Act Tips series, we’ll continue breaking down the key changes and what they mean in practice for landlords.