7 reasons why you must urgently review your landlord terms of business

The Renter’s Rights Act is now officially law, and while the biggest changes won’t bite until May 1, 2026, the clock is already ticking. Agents have a short but crucial window to get ahead of how lettings will work once the new rules bed in.

When Section 21 disappears, and every tenancy becomes periodic (rolling) by default, the old fixed-term cycle goes with it. That shift will change the rhythm of your renewals, how you justify your fees, and the conversations you’ll have with landlords. And because those rolling tenancies rely even more on clarity and consistency, your Terms of Business (ToBs) become the main reference point of what you can charge and what you’re responsible for. 

If your agreements haven’t been looked at for a while, chances are they don’t reflect the world you’ll be operating in next year. That’s why now is the ideal moment to revisit them, refresh them, and ensure they continue to protect your revenue, your team, and your legal responsibilities.

In this blog, we’ll break down what’s changing, the risks of leaving your landlord ToBs untouched, and why you need to start reviewing them. 👇

• What are Terms of Business?
• 7 reasons to review your landlord Terms of Business
• How Goodlord helps you to review your Terms of Business
• Conclusion
• FAQs

What are Terms of Business?

The Terms of Business are the formal contract that defines the service agents provide, the fees they charge, and the responsibilities that sit with both agents and the landlord. In practice, it keeps expectations clear and ensures your service is understood correctly by your customers and legally defensible. 

When these terms become out of date, you risk: 

• Operating outside the law - New legislation is reshaping how tenancies must be managed. Non-compliance is not an option.  
• Losing revenue -  Older fee structures don’t fit a world of periodic tenancies and fewer renewal events. 
• Facing disputes from landlords - If your ToBs no longer reflect how your processes actually work, your landlords could raise a legal dispute against you. 
• Creating compliance gaps - when your team delivers services that aren’t clearly covered or authorised in the contract, you leave your agency open to non-compliance.

7 reasons to review your landlord terms of business

A comprehensive Terms of Business protects your income and clarifies your responsibilities. Reviewing it now can prevent disputes later and ensure your revenue model remains fair and defensible. Here are seven reasons to take a fresh look: 

1 - Your current fee clauses may no longer work under the Renters' Rights Act 

Lettings legislation has tightened considerably in recent years, and most agencies are operating in a far more compliance-heavy environment than when their current Terms of Business were drafted. Requirements around safety, property conditions, transparency, damp and mould, and record-keeping have all stepped up. 

This creates two immediate issues. First, you may be carrying out work that isn’t properly captured or protected in your agreement. Second, vague or outdated clauses can leave your team taking on responsibilities the business never intended to shoulder.

Reviewing your ToBs ensures they accurately reflect: 

• Current legislation and guidance around damp and mould expectations, safety checks, and fair-work compliance. 
• Clearly defined responsibilities, so there’s no confusion about what sits with the agent and what sits with the landlord.
• Updated fee structures, aligned with what is now required to stay compliant. 
• Accurate service descriptions, so landlords understand the real scope of your work and the standards you’re held to.

2 - You may need to shift from annual fees to monthly payments 

With the Renters’ Rights Act introducing periodic tenancies, revenue cadence is changing. Rather than a traditional one-off annual charge, landlords will expect their fees to align with the new tenancy structure: rolling and periodic. 

If your ToBs still assume a fixed 12-month tenancy or rely on an upfront yearly fee, they may quickly become outdated and, in some cases, non-compliant. If your ToBs don’t reflect this shift, it may lead to: 

• Misaligned invoicing, where fee timing no longer matches the tenancy structure or landlord expectations. 
• Cash-flow instability, as annual fees become harder to justify under a rolling tenancy structure.

Updating your ToBs lets you transition cleanly to monthly management fees, ensuring your revenue is transparent and justifiable.

3 - You can review the services you currently provide 

Over time, most agencies end up doing far more than their original ToBs ever anticipated. These are often a long list of extras that have quietly slipped into the day-to-day. Chasing rent arrears, drafting Section 8 notices, managing licensing renewals, arranging pre-tenancy compliance, fielding ad-hoc landlord queries and so on. If it's not managed, the list can grow exponentially.

But if those services aren’t captured in your ToBs, you can’t charge for them, defend them, or protect your team as expectations creep. 

Refreshing your ToBs gives you the chance to formalise what your team already does and ensure your service descriptions reflect the reality of day-to-day management. If your team is spending time on it, it deserves a place in the agreement.

4 - You may require a general hygiene check 

With the Renters’ Rights Act comes a whole wave of updates for the private rented sector. A quick hygiene check of your ToBs can help you spot where things have quietly fallen out of date. The key areas worth paying particular attention to: 

• Awaab’s Law, which brings tighter expectations around damp and mould and requires more explicit commitments from both you and your landlords. 
• Pets in lets, where blanket bans may not stand without careful, compliant drafting.
• The new Landlord Ombudsman, which formalises the handling of complaints and disputes.
• EPC standards, which are edging upwards and often require more precise wording. 

5 - You can correct below-market rates 

Many agencies have long-standing landlords who are still operating on rates agreed years ago. These agreements are often set at levels that no longer reflect today’s workload or compliance demands of modern lettings. In some cases, those legacy fees are so low that the agency is barely breaking even. 

The Renters’ Rights Act provides you with a natural, legitimate moment to tidy this up. If you’re reviewing your Terms of Business anyway, it’s entirely reasonable to bring older agreements in line with the rates you’d offer any new landlord today.

6 - You can introduce additional services

Landlords are becoming more aware of their growing responsibilities – and many are actively seeking additional support. This creates a natural moment for you to broaden your service offering and formally introduce new compliance-aligned services. You might consider including: 

• Rent Protection Insurance and legal expenses cover -  Offers reassurance as arrears processes and notice periods evolve under new legislation. 
• More frequent or compliance-led inspections - Helps landlords stay ahead of damp, mould, and general condition issues. 
• Void management - Ensures properties remain secure and are checked between tenancies. 
• Utility switching or tenant-onboarding services - Reduces admin for landlords and improve the tenant experience. 
• Enhanced licensing and document management - This is increasingly valuable as regulatory items become more time-sensitive and require ongoing monitoring.

7 - Creates a natural opportunity to re-engage landlords

Reviewing ToBs gives you a perfect excuse to pick up the phone and check in with landlords without it feeling salesy. With many landlords unsure about what the Act actually means for them, they’ll welcome a clear, informed update, and that conversation often opens the door to stronger relationships. 

A ToBs review creates space to:

• Educate landlords on the Act and broader changes to their responsibilities.
• Unlock commercial opportunities by uncovering voids, new investments, or self-managed properties needing support. 
• Rebuild relationships with long-quiet landlords and close any lingering service gaps.

How Goodlord helps you review your Terms of Business

Updating your ToBs is essential to protect your revenue and your team. But you can’t simply bolt on extra clauses for the sake of it; anything you include must be something you can genuinely deliver. This is where Goodlord helps.

Goodlord gives you the tools to modernise, issue, and manage your agreements properly, while supporting the additional services you may want to introduce as part of your ToBs refresh.

• Produce and issue updated ToBs digitally - Create updated agreements inside Goodlord and send them to landlords quickly and consistently — no paper, no manual chasing. 
• Secure legally compliant digital signatures - Goodlord lets you collect landlord signatures digitally, ensuring every agreement is signed, dated, and audit-ready. 
• Store and version-control your agreements - All ToBs are documented and stored securely in one place, so your team can always find the most recent version and avoid outdated paperwork.
• Offer additional, legislation-aligned services - Goodlord supports key services you may want to add to refreshed ToBs, including rent protection and legal expenses cover. 

Conclusion 

Revisiting your ToBs is an opportunity to protect your income, update your product portfolio, strengthen your landlord relationships, and get ahead of the sweeping changes the Renters' Rights Act will bring. With clear communication and a modernised approach to fees and responsibilities, agencies can turn what feels like a mandatory review into a genuine commercial advantage. 

Goodlord helps make that transition smooth and future-proof. From issuing updated agreements to collecting digital signatures and supporting additional services you may want to introduce, it provides you with the framework and tools to update your ToBs with confidence and keep them that way.

FAQs

Q1 - How often should I review my Terms of Business? 

Most agencies only review them after a significant legislative change, which is already too late. Best practice is every 12-18 months, or whenever new legislation meaningfully affects fees, responsibilities, or tenancy structures.

Q2 - Do I need to reissue the Terms of Business to all landlords, or only to new ones? 

If your agreements are out of date, all landlords need updated ToBs, not just new instructions. A phased rollout is fine, but the important part is ensuring every landlord you manage is operating under compliant, accurate terms. 

Q3 - Can landlords refuse to sign my updated ToBs? 

They can, but most won’t if the changes are clearly explained and tied to legislative updates. Where there is pushback, it’s usually because: 

• Fees aren’t explained clearly
• They don’t understand the legislative impact
• Communication feels abrupt or transactional 

While it is entirely within a landlord’s rights not to sign your ToBs, you should also know your own value. Remember, working together to reach an understanding that works for both parties should be the goal of any discussion you have with your clients. 

Q4 - What happens if I don’t update my ToBs before the Renters’ Rights Act changes begin? 

The Renters’ Rights Act is the most transformative piece of legislation to hit the Private Rented Sector in decades. If you refuse to adapt with it by not updating your ToBs, you risk: 

• Charging landlords incorrectly
• Absorbing extra workload for free
• Misaligned expectations
• Compliance breaches that could escalate into Ombudsman cases

Q5 - If Goodlord stores my ToBs, do I still need local records? 

Goodlord will keep copies of your ToBs in a central location, so you can access them whenever needed. We would, however, always advise Goodlord customers to keep a copy of their most important documents on a local backup.

Q6 - Can Goodlord automatically remind landlords about renewals, rent reviews, and compliance obligations? 

Yes. Goodlord includes automated reminders for key tenancy and compliance milestones.

For many agents, this functionality is a major reason they choose to adopt Goodlord when refreshing their Terms of Business. The platform helps ensure nothing is missed, reduces the administrative burden on your team, and provides clear evidence of the ongoing value delivered through your management service.

These reminders also strengthen your position during renewal conversations, help maintain legal compliance across your portfolio, and demonstrate a proactive, professional approach to landlord management.

This article is intended as a guide only and does not constitute legal advice. Visit gov.uk for more information.