Rental bidding wars don’t happen on a “grand scale” but it would be disappointing to ban them, The Property Franchise Group (TPFG) chief executive Gareth Samples claims.

Speaking exclusively to Letting Agent Today – before details of the Renters’ Rights Bill were published this morning – Samples said he backed proposals from the previous rental reform legislation.

The Bill continues the work of the Rental Reform Bill and ban Section 21 notices but also bans rental bidding wars.

Samples previously questioned this move.

He said: “The reality is that if you put your house on the market, people make bids.

“That has never gone into the rental market, it has been more about the quality of tenant and referencing.

 “The reality is that in any market where demand outstrips supply, you have the potential for best and final offers.

 “I don’t see this happening on a grand scale but from my own personal perspective, we are instructed by landlords to get the best price.

“It is dangerous when you start meddling with that. 

“Bidding wars are not stopped in the sales market in times of low supply, I would be disappointed if it came into rentals.”

His comments came ahead of the publication of the the Renters’ Rights Bill to Parliament today where the Government confirmed rumours of a ban on rental bidding wars.

Landlords and letting agents will be legally required to publish an asking rent for their property. They will also be banned from asking for, encouraging, or accepting any bids above this price

The proposed legislation also confirmed plans to abolish Section 21 ‘no-fault’ evictions for new and existing tenancies and will also end blanket bans for those on benefits or with children.  

The Bill will extend Awaab’s Law into the private rented sector, letting tenants challenge dangerous conditions and it will also apply the Decent Home Standard for rentals. 

Landlords will also not be able to include mid-tenancy increases in contracts and would only be able to raise the rent once a year, and to the market rate.  

Housing Secretary Angela Rayner said:  “Renters have been let down for too long and too many are stuck in disgraceful conditions, powerless to act because of the threat of a retaliatory eviction hanging over them.  

“Most landlords act in a responsible way but a small number of unscrupulous ones are tarnishing the reputation of the whole sector by making the most of the housing crisis and forcing tenants into bidding wars.   

“There can be no more dither and delay. We must overhaul renting and rebalance the relationship between tenant and landlord. This Bill will do just that and tenants can be reassured this Government will protect them.”