The Renters Reform Bill White Paper is expected in 2022 and will outline wide-ranging reforms proposed for the private rental sector. Landlords need to be prepared to make changes to ensure that they meet the new obligations when they are introduced.
What is expected to be in the Renters Reform Bill?
There are several fundamental changes proposed in the Bill that will directly impact landlords:
• Abolishing Section 21 “no fault” evictions: Landlords will need to provide tenants with a valid reason for eviction at the end of the tenancy, which is not currently required.
• A lifetime tenancy deposit: This will ease the financial burden for tenants when moving between tenancies as deposits will be transferred with each move, rather than having to save for a new deposit for the following property while waiting for the last deposit to be returned.
• Improved standards in rented accommodation: To ensure all tenants have a right to redress and stop criminal landlords from unscrupulous practices to improve the standard of rental properties.
• Strengthening repossession grounds for landlords: When the landlord has a valid reason to repossess the property, the Bill will ensure they can do so.
• Introduction of a landlord register: This will improve how they are held to account so tenants can be assured they are renting from a landlord who meets their legal duties.
• Improved eviction process: Making the process easier and quicker for landlords and tenants and providing mediation services to avoid the courts.
• Greater powers for local authorities: To enforce the rights of tenants.
Why are the changes being introduced?
The Renters Reform Bill is seeking to make changes to offer greater security for tenants while also ensuring that the rights of landlords aren’t unfairly diminished, allowing them still to take appropriate action when there’s justification.
The Bill will also elevate some of the financial burdens on tenants regarding managing deposits. These changes should improve standards for tenants with greater clarity on all sides over what their responsibilities are.
How will the proposed reforms affect landlords?
Landlords must make themselves up to speed with all the changes the Bill introduces so they don’t miss any of the new obligations. This could mean updating tenancy agreements, deposit and rental processes, including eviction notices, to reflect new regulations.
To remain competitive and attract the tenants you want, all landlords and agents should already be keeping their properties maintained to a high standard. A robust inventory procedure can help you achieve and maintain standards in your rental properties. If not already in place, landlords and agents should consider this as a tool to meet their new obligations under the Renters Reform Bill.
At No Letting Go, we will be working proactively to ensure that our inventories are ready for any changes the Renters Reform Bill introduces and will work with landlords and letting agents so that our services continue to help them meet their regulatory obligations.
No Letting Go
If you would like to discuss how our local support or national network at No Letting Go can become your inventory partner, keeping you compliant with the law, streamlining your costs and reducing your workload, then contact No Letting Go today.
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