Despite the government’s new Renters’ Rights Bill aiming to give tenants more power, industry giant Grainger predicts rents will keep climbing.

Grainger, the UK’s biggest residential landlord, has welcomed the Bill but believes it won’t dampen the rental market’s fiery growth. Why? They point to the continuing imbalance between the high demand for rentals and the low supply of available properties.

While the Bill, which faces its second reading soon, promises to shake things up by scrapping ‘no-fault’ Section 21 evictions, Grainger remains confident about raking in profits. They’ve seen a 6.3% surge in rental income this year, a slight dip from last year’s 7.7% but still a healthy boost.

Their secret sauce? Grainger, sitting pretty with a portfolio of 12,000 homes, says “rapidly accelerating” demand is keeping the rental market sizzling. And while they predict a slight cooling in 2024-25, they still expect growth to outpace the long-term average.

CEO Helen Gordon assures us that high wage growth, particularly among their target demographic, will keep those rental payments flowing. She boasts of “healthy affordability” and “high customer satisfaction,” painting a rosy picture for landlords.

The numbers back up their confidence. Grainger boasts 97.4% occupancy, with new lets commanding a 5.6% rental increase and renewals even higher at 6.8%. Clearly, tenants are willing to pay a premium for a roof over their heads.

So, there you have it. While the Renters’ Rights Bill might grab headlines, landlords can rest assured – the demand for rentals remains sky-high in the foreseeable future.