The Renters' Rights Act 2025 (the Act) received Royal Assent on 27 October 2025 and will materially reshape the private rented sector.
For PBSA investors, the key point is not simply that assured shorthold tenancies (ASTs) will be abolished and replaced by assured periodic tenancies (APTs) from 1 May 2026, but that access to the PBSA exemption depends on membership of, and compliance with, a government-approved code, such as the ANUK/Unipol Code of Standards for Larger Developments for student accommodation, dated 27 February 2026 (the Code). If this becomes the route by which operators preserve fixed-term lettings aligned with the academic year, Code compliance may move from sector best practice to something closer to a core operating requirement, with consequences for possession strategy, financing, valuation and operator selection.
