When the Renters' Rights Act was first making its way through Parliament, much of the debate focused on what might go wrong.
Landlord groups warned of investors leaving the sector. Commentators predicted rental shortages and rising rents. Some feared the reforms would make landlords more cautious, while others questioned whether the changes would ultimately reduce choice for tenants.
Few discussed the potential benefits of a more secure, longer-term rental market.
There were also reports of landlords serving Section 21 notices to tenants before the legislation came into force to regain possession under the existing rules.
Yet a few weeks after implementation, the reality across Richmond, Twickenham, Teddington, St Margarets, Hampton Hill, Hampton and Isleworth appears considerably less dramatic than many predicted.
That doesn't mean the legislation is insignificant. Far from it. The Renters' Rights Act represents one of the biggest changes to the private rented sector in a generation.
However, what we are seeing locally suggests the Act may be empowering existing trends rather than fundamentally reshaping the market.
One reason South West London appears to have absorbed the changes relatively smoothly is that many landlords and tenants here were already operating in a way that aligns with the spirit of the legislation.
Unlike some parts of central London where tenant turnover can be relatively high, much of the Chase Buchanan market is driven by families and longer-term renters.
Many tenants move into the area because of schools, transport connections, green spaces and a strong sense of community. They are often looking for a home rather than simply a place to stay for a year.
That naturally creates longer tenancies and a greater focus on stability.
"Historically, both renters and landlords in these areas have already tended to prioritise stability, longer-term tenancies and strong working relationships. Because of that, much of the day-to-day market activity has remained relatively consistent so far."
In many respects, the market was already moving in the direction the legislation is seeking to encourage.
One of the less discussed aspects of the Renters' Rights Act is the psychological impact it may have on tenants.
For many households, particularly families, renting is no longer simply a stepping stone to home ownership.
Home ownership in England has fallen from 71% of households in 2003 to 64.8% in 2024, creating what the Home Builders Federation calls 1.5 million ‘missing homeowner households’ who would likely own a home today if historic ownership rates had been maintained.
While mortgage affordability has improved compared with the peak of the market a few years ago, property prices remain high relative to earnings.
For a growing number of households, renting is no longer a short stop on the journey to ownership. It is becoming a long-term housing choice.
That makes security increasingly valuable.
For a family choosing schools, building local friendships and becoming part of a community, the ability to plan beyond the next 12 months matters. The appeal of knowing that a tenancy cannot be ended without reason should not be underestimated.
We're increasingly seeing tenants approach rental decisions in a similar way to buyers. Living space, lifestyle, transport links and long-term suitability all play a major role in decision-making.
The question is often no longer "Can we live here for a year?" but "Can we see ourselves living here for five or ten years?"
Much of the public discussion surrounding the Renters' Rights Act has framed landlords and tenants as being on opposite sides of the debate.
The reality is often more nuanced.
Good landlords typically value many of the same things tenants do. Stability reduces void periods. Longer tenancies reduce re-letting costs. Reliable tenants help create predictable income and fewer management issues.
For many landlords, particularly those with family homes, securing the right tenant has always been more important than simply securing the next tenant.
Says Myles: "From a landlord perspective, those achieving the best results are generally the ones taking a long-term view, pricing sensibly and focusing on securing the right tenant profile rather than simply treating it as a single transaction."
That philosophy arguably becomes even more important under the new legislation.
The landlords who are likely to thrive are those who view their property as a long-term investment and focus on building positive, sustainable tenant relationships.
Many of the warnings made during the Bill's passage through Parliament centred on one question: would landlords simply leave the sector?
If large numbers did, the consequences could be significant. Fewer rental properties would mean greater competition among tenants and potentially higher rents. Others questioned whether landlords would become more cautious about who they let to if regaining possession became more difficult.
However, several weeks into the new regime, there is little evidence of a mass exodus from the market across South West London. In fact, some former landlords are already returning to the market.
Demand remains strong. Well-presented homes continue to attract significant interest. The fundamentals that have always driven successful lettings remain largely unchanged.
Perhaps the biggest lesson so far is that the rental market rarely changes overnight.
While the Renters' Rights Act has generated significant headlines, its immediate impact has been less dramatic than many expected.
Instead, what we are seeing locally feels more like a gradual rebalancing.
Longer tenancies are becoming increasingly common. Tenants are thinking more carefully about long-term suitability. Landlords are placing greater emphasis on tenant quality and retention.
These trends were already emerging before the legislation arrived.
Myles adds: "Overall, the legislation has not necessarily acted as a hurdle locally, but more as a gradual rebalancing of the system, allowing good landlords and tenants to continue building stable longer-term relationships."