With the Renters’ Rights Bill in its final parliamentary stages, here, we cover what landlords now need most from the government and provide a quick reminder of what’s included in the Bill.
Labour appears to have inherited its predecessor’s revolving door for government officials, with Angela Rayner resigning just last week to be swiftly replaced by the new Housing Secretary, Steve Reed (MP for Streatham and Croydon). However, despite the change, the government is wasting no time pushing through the Renters’ Rights Bill to its final stages before receiving Royal Assent.
The priority now is clarity on how and when the changes will be implemented. With new responsibilities for landlords to uphold, clear guidance is essential so property investors understand their obligations and rights.
The National Residential Landlords Association (NRLA) has raised concerns over the time scales landlords will have to implement the changes and says it would like to see at least a six-month ease-in period.
In a new statement, the NRLA comments: “Primarily, we want the Government to be clear and outline exactly when landlords will need to comply with the provisions in the Bill.
“Frustratingly it has remained tight-lipped on timeframes, with concerns landlords could be left in limbo, if the Renters’ Rights Bill becomes law without information on when those new laws come into force. This will only serve to harm confidence in the sector.
“Landlords, like all businesses, need certainty so they can properly plan how to manage their businesses, and this is why the Government needs to move quickly to outline when the Renters’ Rights Bill will begin to take effect.”
What to expect from the Renters’ Rights Bill
Here’s a reminder of what’s included in the Bill:
- Abolishing Section 21 ‘no fault’ evictions
- Strengthened tenant rights with new laws to end bidding ways
- Allowing tenants to request pets
- A Decent Homes Standard
- ‘Awaab’s Law’ to be implemented
- An online database for landlords, tenants, and councils
- A new property ombudsman
- Making it illegal to discriminate against tenants on benefits or with children
- Giving more powers to local councils
How we can help
The Renters’ Rights Bill has been contentious for years, and as it approaches full implementation, many landlords will undoubtedly be concerned about what’s next.
The best thing to do is keep up to date with the latest industry news. Subscribe to our monthly investor update to be the first to hear when the Bill is passed and the next steps for landlords.
Of course, if you want to review your finance options to keep your mortgage costs down, our experts are here to help. Once the Bill is passed, there will undoubtedly be new challenges to face, so ensuring your property portfolio runs efficiently and keeps your profits up is essential.
Speak to an expert
Call our team on 0345 345 6788 or submit an enquiry here to see how we can help.
