The rental market has undergone significant change this year, prompting plenty of speculation about what it would mean for landlords, tenants, rents and the availability of property. Almost four months on from the main reforms taking effect, we are beginning to get some useful evidence — and in Loughborough, the reality on the ground is less dramatic than many of the headlines suggest.

There are considerably more properties available

Over the past month, 98 residential lets were agreed across the Loughborough area, compared with 105 during the equivalent period last year. That's a modest fall of around 6.7%. At the same time, the number of properties being advertised has increased from 266 to 333 — a rise of just over 25%. That is probably the most significant change in the local market.

It doesn't mean demand has disappeared. Nearly 100 properties being agreed in a month is still substantial activity. But tenants now have considerably more choice than they did a year ago. For landlords, that means there is more competition.

A property that is correctly priced, well presented and comprehensively advertised can still attract strong interest. A property that starts too high or compares poorly with the alternatives is more likely to sit on the market.

Rents haven't fallen

The increase in available stock has not, so far, translated into falling rents across the properties we manage. At the end of July, the average monthly rent across our fully managed Loughborough portfolio was £965.91. That is:

• 1.68% higher than 4 months earlier; and
• 2.77% higher than 12 months earlier.

Those aren't dramatic increases, particularly compared with some of the rent growth seen over recent years, but neither do they suggest rents are retreating. National figures tell a similar story. Average advertised rents outside London were still higher year-on-year during the second quarter of 2026, although growth had slowed considerably from the exceptional increases seen earlier in the decade.

For us, the important distinction is between asking rent and achievable rent.

Getting the asking rent right matters more now

One of the changes introduced on 1 May is the prohibition on rental bidding. A landlord or letting agent must advertise a specific rent and cannot ask for, encourage or accept an offer above that advertised figure.

There have already been reports elsewhere in the country of landlords responding by advertising properties at higher rents, anticipating that tenants may negotiate downwards. We would be cautious about that approach. With 25% more property currently being advertised locally, deliberately starting too high risks losing good applicants to comparable properties.

In the current Loughborough market, establishing the right asking rent from the outset is increasingly important. That means looking at what has actually let, rather than simply comparing a property with other asking prices online.

Good marketing is becoming more important, not less

One figure from the past month particularly stands out to us. Although the total number of residential lets agreed across Loughborough fell from 105 to 98, Huntleys' share of agreed lets increased from 13.5% to 23.5%. That's an increase of 10 percentage points in a market where tenants have more properties to choose from.

We think that illustrates an important point for landlords.

When demand greatly exceeds supply, almost any sensibly priced property can attract attention. As supply increases, differences in pricing, photography, presentation, advertising coverage, responsiveness and how a property is positioned against its competition start to matter more.

What does this mean for a Loughborough landlord?

For landlords letting a property now, our advice would be relatively simple:

• Price from evidence. Look at recent achieved rents for genuinely comparable properties, rather than assuming last year's rent plus an arbitrary percentage.
• Make the property competitive. When tenants have 333 properties to choose from rather than 266, presentation matters.
• Get the advertising right. Photography, descriptions, portal coverage and the initial launch of a property all have more value when supply is increasing.
• Don't automatically chase the highest possible asking rent. An additional £25 or £50 per month can quickly be lost if it results in an unnecessary void.
• Review existing rents properly. Rents are still moving upwards, so landlords should not ignore rent reviews, but increases need to reflect the current market and follow the new statutory process.

Our view

It is still too early to attribute every movement in the rental market to the Renters’ Rights Act. What the numbers do tell us is that Loughborough landlords are operating in a more competitive market than they were a year ago. There are more properties available. Slightly fewer lets are being agreed. Rent growth continues, but is relatively restrained.

That isn't necessarily bad news for landlords. Good properties at appropriate rents are still letting, and demand remains substantial. But the market is becoming less forgiving of poor pricing and mediocre marketing.

After several years in which exceptionally limited supply did much of the work for landlords, getting the fundamentals right matters again. And, based on what we're seeing in Loughborough, that may be one of the most important early changes in the rental market in 2026.