There are now 3.8 million households living in the private rented sector (PRS), a number which has nearly doubled in the past ten years. The PRS is increasingly being used by local authorities and agencies to house homeless people but the ending of a private tenancy is now the leading cause of statutory homelessness. In this context there are questions about the sector’s ability to accommodate the needs of homeless people, especially because little is known about people’s experiences once they move into PRS accommodation. This study set out to explore this evidence gap, by spending 19 months tracking the experiences and wellbeing of 128 people who had been rehoused in the PRS following a period of homelessness. While the study is specifically about the experiences of previously homeless people, it has uncovered issues in the PRS that will be relevant to anybody living in it. We have found that the PRS has a profound impact on wellbeing.