diff --git a/src/dispatcher/actions.ts b/src/dispatcher/actions.ts
index 5732428201..043c69df36 100644
--- a/src/dispatcher/actions.ts
+++ b/src/dispatcher/actions.ts
@@ -193,4 +193,11 @@ export enum Action {
      * Switches space. Should be used with SwitchSpacePayload.
      */
     SwitchSpace = "switch_space",
+
+    /**
+     * Fires when a monitored setting is updated,
+     * see SettingsStore::monitorSetting for more details.
+     * Should be used with SettingUpdatedPayload.
+     */
+    SettingUpdated = "setting_updated",
 }
diff --git a/src/dispatcher/payloads/SettingUpdatedPayload.ts b/src/dispatcher/payloads/SettingUpdatedPayload.ts
new file mode 100644
index 0000000000..8d457facfb
--- /dev/null
+++ b/src/dispatcher/payloads/SettingUpdatedPayload.ts
@@ -0,0 +1,29 @@
+/*
+Copyright 2021 The Matrix.org Foundation C.I.C.
+
+Licensed under the Apache License, Version 2.0 (the "License");
+you may not use this file except in compliance with the License.
+You may obtain a copy of the License at
+
+    http://www.apache.org/licenses/LICENSE-2.0
+
+Unless required by applicable law or agreed to in writing, software
+distributed under the License is distributed on an "AS IS" BASIS,
+WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+See the License for the specific language governing permissions and
+limitations under the License.
+*/
+
+import { ActionPayload } from "../payloads";
+import { Action } from "../actions";
+import { SettingLevel } from "../../settings/SettingLevel";
+
+export interface SettingUpdatedPayload extends ActionPayload {
+    action: Action.SettingUpdated;
+
+    settingName: string;
+    roomId: string;
+    level: SettingLevel;
+    newValueAtLevel: SettingLevel;
+    newValue: any;
+}
diff --git a/src/settings/SettingsStore.ts b/src/settings/SettingsStore.ts
index 44f3d5d838..c5b83cbcd0 100644
--- a/src/settings/SettingsStore.ts
+++ b/src/settings/SettingsStore.ts
@@ -29,6 +29,8 @@ import LocalEchoWrapper from "./handlers/LocalEchoWrapper";
 import { WatchManager, CallbackFn as WatchCallbackFn } from "./WatchManager";
 import { SettingLevel } from "./SettingLevel";
 import SettingsHandler from "./handlers/SettingsHandler";
+import { SettingUpdatedPayload } from "../dispatcher/payloads/SettingUpdatedPayload";
+import { Action } from "../dispatcher/actions";
 
 const defaultWatchManager = new WatchManager();
 
@@ -147,7 +149,7 @@ export default class SettingsStore {
      * if the change in value is worthwhile enough to react upon.
      * @returns {string} A reference to the watcher that was employed.
      */
-    public static watchSetting(settingName: string, roomId: string, callbackFn: CallbackFn): string {
+    public static watchSetting(settingName: string, roomId: string | null, callbackFn: CallbackFn): string {
         const setting = SETTINGS[settingName];
         const originalSettingName = settingName;
         if (!setting) throw new Error(`${settingName} is not a setting`);
@@ -193,7 +195,7 @@ export default class SettingsStore {
      * @param {string} settingName The setting name to monitor.
      * @param {String} roomId The room ID to monitor for changes in. Use null for all rooms.
      */
-    public static monitorSetting(settingName: string, roomId: string) {
+    public static monitorSetting(settingName: string, roomId: string | null) {
         roomId = roomId || null; // the thing wants null specifically to work, so appease it.
 
         if (!this.monitors.has(settingName)) this.monitors.set(settingName, new Map());
@@ -201,8 +203,8 @@ export default class SettingsStore {
         const registerWatcher = () => {
             this.monitors.get(settingName).set(roomId, SettingsStore.watchSetting(
                 settingName, roomId, (settingName, inRoomId, level, newValueAtLevel, newValue) => {
-                    dis.dispatch({
-                        action: 'setting_updated',
+                    dis.dispatch<SettingUpdatedPayload>({
+                        action: Action.SettingUpdated,
                         settingName,
                         roomId: inRoomId,
                         level,
diff --git a/src/stores/BreadcrumbsStore.ts b/src/stores/BreadcrumbsStore.ts
index aceaf8b898..8a85ca354f 100644
--- a/src/stores/BreadcrumbsStore.ts
+++ b/src/stores/BreadcrumbsStore.ts
@@ -23,6 +23,8 @@ import { arrayHasDiff } from "../utils/arrays";
 import { isNullOrUndefined } from "matrix-js-sdk/src/utils";
 import { SettingLevel } from "../settings/SettingLevel";
 import SpaceStore from "./SpaceStore";
+import { Action } from "../dispatcher/actions";
+import { SettingUpdatedPayload } from "../dispatcher/payloads/SettingUpdatedPayload";
 
 const MAX_ROOMS = 20; // arbitrary
 const AUTOJOIN_WAIT_THRESHOLD_MS = 90000; // 90s, the time we wait for an autojoined room to show up
@@ -63,10 +65,11 @@ export class BreadcrumbsStore extends AsyncStoreWithClient<IState> {
     protected async onAction(payload: ActionPayload) {
         if (!this.matrixClient) return;
 
-        if (payload.action === 'setting_updated') {
-            if (payload.settingName === 'breadcrumb_rooms') {
+        if (payload.action === Action.SettingUpdated) {
+            const settingUpdatedPayload = payload as SettingUpdatedPayload;
+            if (settingUpdatedPayload.settingName === 'breadcrumb_rooms') {
                 await this.updateRooms();
-            } else if (payload.settingName === 'breadcrumbs') {
+            } else if (settingUpdatedPayload.settingName === 'breadcrumbs') {
                 await this.updateState({ enabled: SettingsStore.getValue("breadcrumbs", null) });
             }
         } else if (payload.action === 'view_room') {
diff --git a/src/stores/room-list/RoomListStore.ts b/src/stores/room-list/RoomListStore.ts
index 3913a2220f..b7af70ad99 100644
--- a/src/stores/room-list/RoomListStore.ts
+++ b/src/stores/room-list/RoomListStore.ts
@@ -36,6 +36,8 @@ import { RoomNotificationStateStore } from "../notifications/RoomNotificationSta
 import { VisibilityProvider } from "./filters/VisibilityProvider";
 import { SpaceWatcher } from "./SpaceWatcher";
 import SpaceStore from "../SpaceStore";
+import { Action } from "../../dispatcher/actions";
+import { SettingUpdatedPayload } from "../../dispatcher/payloads/SettingUpdatedPayload";
 
 interface IState {
     tagsEnabled?: boolean;
@@ -213,10 +215,11 @@ export class RoomListStoreClass extends AsyncStoreWithClient<IState> {
         const logicallyReady = this.matrixClient && this.initialListsGenerated;
         if (!logicallyReady) return;
 
-        if (payload.action === 'setting_updated') {
-            if (this.watchedSettings.includes(payload.settingName)) {
+        if (payload.action === Action.SettingUpdated) {
+            const settingUpdatedPayload = payload as SettingUpdatedPayload;
+            if (this.watchedSettings.includes(settingUpdatedPayload.settingName)) {
                 // TODO: Remove with https://github.com/vector-im/element-web/issues/14602
-                if (payload.settingName === "advancedRoomListLogging") {
+                if (settingUpdatedPayload.settingName === "advancedRoomListLogging") {
                     // Log when the setting changes so we know when it was turned on in the rageshake
                     const enabled = SettingsStore.getValue("advancedRoomListLogging");
                     console.warn("Advanced room list logging is enabled? " + enabled);