Foxtons Group Revenue Drops Following Renters Rights Act

Foxtons Group Plc reported a continued decline in revenue driven by the implementation of the Renters Rights Act. The London-focused estate agent saw its lettings business revenue decrease by 2.3 million pounds (3.1 million dollars) during the third quarter.

This downturn follows an initial 3 million pound loss reported in July. The financial impact stems from new rules introduced in May that permit tenants to terminate their leases before the scheduled expiry date.