Just 16% of landlords say they are fully prepared for the Renters’ Rights Bill, which is expected to become law in the coming weeks, according to a new survey commissioned by estate and lettings agent Cavendish.
The poll of 1,001 landlords across England found that the remaining 84% are under-informed or unaware:
+ 7% have not heard of the Bill at all
+ 29% are aware but don’t understand the implications
+ 16% have heard of it but know very little
+ 32% have a general understanding but still have questions
The Renters’ Rights Bill proposes sweeping changes to the private rented sector in England, aiming to strengthen tenant protections and impose stricter obligations on landlords.
Key measures include:
+ A ban on Section 21 evictions
+ Replacing fixed-term tenancies with rolling periodic tenancies
+ New limits on rent increases, which can only occur once per year with two months’ notice via a Section 13 notice
+ Civil penalties starting at £7,000, rising up to £40,000 for serious breaches
Tenants will also be able to challenge excessive rent increases at the First-tier Tribunal, which will determine the appropriate market rate.
Other proposed changes include curbing landlords’ ability to unreasonably refuse pets, among additional compliance demands that could catch some landlords off guard.
The Bill is set to return to the House of Commons and House of Lords on 8 September for final amendments and approval before receiving Royal Assent, at which point it will become law.
David Adams, managing director of Cavendish, said: “There is a huge amount at stake for landlords with the imminent introduction of the Renters Rights Bill.
“The changes being introduced are some of the biggest impacting landlords for decades and the potential cost of falling foul of the new legislation in terms of reputation and financial penalties is enormous.
“While we have been supporting landlords directly and via regular webinars for some time, it is clear from our survey that the vast majority of landlords across England do not feel fully prepared for what is set to become law in a matter of weeks.
“Being fully prepared is the only way forward if landlords are serious about protecting and growing their rental portfolios.”
You end by stating “Being fully prepared is the only way forward if landlords are serious about protecting and growing their rental portfolios.” What do you mean when you say we have to be fully prepared? “ Th rules are not yet set in law but we know they are coming. If we have existing tenants and we have no reason to ask them to leave we are “stuck” with them. If we want to increase then rent then we need to do so in a formal way (S13 notice with 2 months – but I as a small landlord always give 2 months notice anyway). Do I need to issue a new agreement – if so is there a draft follow?, not seen one yet. Regarding rolling periodic tenancies – does that mean new agreement.I could do with a report that says what we actually need to have in place not just we need to be prepared. To be fair – if any of my tenant leave im more likely now to give the house to a housing provider to get rid of any potential hassle.
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