The lettings market continues to be driven by one simple factor: demand is far outweighing supply.  According to Propertymark's January 2026 Housing Insight Report, the average member branch received fewer than four new fully managed rental properties during the month, while each available property attracted an average of seven applicants.

Here in Wakefield, Pontefract and across West Yorkshire, we are seeing similar trends. Well presented rental properties continue to attract strong interest, and competition among tenants remains high.  With demand so strong, it might seem that landlords hold all the cards. In reality, however, landlords who enjoy the greatest long term success are often those who focus on keeping good tenants rather than replacing them.

The True Cost of Re-Letting

When a tenancy comes to an end, the costs involved can quickly add up. Even a short void period means lost rental income that cannot be recovered. There may also be costs associated with professional cleaning, redecoration, maintenance works and preparing the property for the next tenant. Then comes the time and administration involved in marketing the property, arranging viewings, carrying out referencing and onboarding a new tenant. There is also another important consideration: uncertainty.  A tenant who pays their rent on time, looks after the property and communicates well is a known quantity. A new tenant, regardless of how well they reference, is still an unknown. At a time when many households continue to feel the pressure of rising living costs, having a reliable and financially stable tenant should never be underestimated.

What the Renters' Rights Act Means for Tenant Retention

The Renters' Rights Act 2025, which came into force on 1 May 2026, has changed the way tenancies operate. Tenancies are now open ended assured periodic agreements. There are no fixed term renewals and no automatic end date. Instead, tenancies continue until either the landlord or tenant takes the necessary steps to bring them to an end. For landlords, this makes positive tenant relationships more important than ever. A tenant who feels happy, secure and valued in their home is far more likely to stay for the longer term. Looking after your existing tenants is often considerably more cost-effective than regularly finding new ones. For tenants, the changes also bring greater security. They no longer face the uncertainty of approaching renewal dates and can enjoy greater confidence in their living arrangements, provided they continue to meet their responsibilities.

What Good Tenant Retention Looks Like

Retaining good tenants starts with effective property management. Responding promptly to maintenance issues, keeping the property in good condition and communicating clearly all help create a positive experience for tenants. Tenants who feel listened to and supported are generally much less likely to start looking elsewhere. Rent reviews also play an important role. Under the new legislation, any rent increase must follow the formal Section 13 process and landlords are required to provide at least two months' written notice. When rent reviews are handled fairly, transparently and with clear evidence to support them, tenants are often far more understanding and willing to remain in the property. It's also worth recognising loyalty. A tenant who has remained in your property for several years without issue has potentially saved you the cost, disruption and uncertainty of multiple re-lets. Valuing that relationship isn't simply good practice; it's good business.

The Bigger Picture

While strong demand continues to provide landlords with confidence, the most successful landlords often take a longer-term view. Good tenants are valuable. They provide stability, minimise costs and help create a smoother, more predictable investment. 

Here at Richard Kendall Estate Agent, we continue to work closely with our landlords across Wakefield, Pontefract and surrounding areas to help them navigate legislative changes and build successful, long-term tenancies. In today's market, keeping a great tenant is often one of the best investments a landlord can make.

Our lettings team can help you manage your tenancy relationships and reduce void periods. Get in touch today