As many as 50% of agents say that they are concerned about the forthcoming Renters’ Rights Bill, data commissioned by Propertymark revealed earlier this year.
Some agents added that they worry once the Renters’ Rights Bill becomes law that it will add more administrative burdens to letting agents, which includes ensuring landlords are aware of these upcoming changes, and the wider impact it will have on the private rental sector in general.
Many landlords are also worried about some of the legislative changes being proposed as part of Renters’ Rights Bill. Research suggests that private landlords fear the loss of Section 21 evictions the most.
Landlords will only be able to evict tenants using one of the allowable grounds under Section 8. These changes will provide tenants with more security and empower them to challenge unfair practices without fear of eviction.
But when looking at the finer details being proposed, are there grounds for tenants to worry more about the Renters’ Rights Bill than Landlords?
Property analyst Kate Faulkner shares her insights on UK Property News Episode 3 with host Ian Collins of Talk TV.
Faulkner provides a clear and straightforward analysis of the Renters’ Rights Bill, addressing key concerns and the potential impact on both landlords and tenants. She explores how the bill could affect landlords’ responsibilities and financial stability, while also bringing to attention the possible negative consequences for tenants in terms of housing shortages.
Among this, she shares essential tips for landlords to make sure their properties are prepared for any changes and tips for ‘getting their house order’ – quite literally ahead of time in regards to finances.
Section 21 previously allowed tenants to leave a property without the risk of receiving a CCJ or a negative mark on their credit report, which could otherwise hinder their ability to secure future housing. Many tenants who vacated properties following a Section 21 notice found it easier to rent again because they were not subject to court proceedings. However, under the new Renters’ Reform Bill, evictions will require court action, potentially leaving tenants with bad references and, in many cases, damaged credit. The government’s approach appears misguided, and the influence of landlord-opposing groups such as Shelter and Generation Rent is ultimately causing more harm than good for future renters.
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Rents will increase again with the ‘no offers above asking rent’ rule. Every time there is interference in the rental market, tenants suffer. When will government and the landlord opposing groups learn this?
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It’s crazy, I’ve never seen so many landlords selling up..
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RRB will just encourage more tenants to live rent free for months and just vacate and disappear before the court date. We already saw this happening with s21 but at least they couldn’t amass months of rent arrears.
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Just watched the video and the 12 month tenancy surprised me as I assumed there would be no time limit on a tenancy and that every tenancy would just run on. If a tenant signs for 12 months does this mean the landlord can get his property back after 12 months? I live in Cornwall and holiday let owners will really lose out because STA will be no more. Most holiday let owners let their properties under a 6 month agreement for the 6 winter months but now the properties will just remain empty.
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By the time Politicians, (We don’t) Shelter and Generation Rant realise what damage they have caused, it will be too late. Tenants will be forced to rely on the corporate landlords and the personal contact will be gone.
As the song goes, “The times they are a-changing”.
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