The Renters Reform Bill was finally introduced to Parliament in May, but it still has a long way to go before becoming law and is likely to change and strengthen its proposals as it moves through the various levels of parliament.
What is the Renters Reform Bill?
On May 17, 2023, the Renters Reform Bill was presented to Parliament for its first reading. Based on five years of research with landlord and tenant organisations, its goal is to enhance life for the 11 million tenants and 2.3 million landlords in the UK.
What does it mean for tenants?
Tenants can feel more secure with the proposed abolishment of Section 21. Giving tenants real peace of mind and preventing unfair evictions makes a place seem more like home. Renters will have the opportunity to hold landlords accountable for providing decent housing. Your pets will also have more rights than ever before, which is wonderful news for everyone.
What does it mean for landlords?
Section 8 will be strengthened, which allows landlords to end tenancy agreements early if they have good reason to do so. Despite the fears some have expressed about abolishing Section 21 - ‘no fault’ evictions, the reality is that it will make it easier for landlords to evict tenants for anti-social behaviour and repeated missed rent payments. While blanket bans on pets have also been proposed, with the new legislation in place, landlords can insist on their tenants' pets having pet insurance, certificates, and, in the case of dogs, being microchipped. Landlords will be able to increase rents, but the notice period to do so will be doubled.
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This aims to help landlords have a better understanding of their legal obligations. This will define issues in compliance and improve the landlord-tenant relationship. Each party will know where they stand and be better informed of their rights, reducing confusion and potential conflict.
When will it come into effect?
With some predicting October 2024, there are many stages for the Bill to pass before it becomes law. The House of Commons has yet to complete the report stage and committee stage before having a third reading. Then the Bill will have to pass the House of Lords with the same five stages as the House of Parliament, and finally, after all of this, face amendments before gaining royal assent. This means that the finer details of the Bill could change before it becomes law, and the current proposals have a long way to go before they are set in stone.
The importance of a good letting agent
Ultimately, tenants want a great place to live and are entitled to feel secure and live in a property that is up to standard. Landlords need to protect their investments and their property. Using the right agent will mean that you, as a tenant, will only ever find property of a good standard and equally reputable landlords. As a landlord, using a letting agent means you will have the opportunity to let your property to reliable tenants thoroughly checked with references and with as many other letting management facilities as you require. So it’s in both parties interests to use a letting agent, making letting and renting a seamless and enjoyable process. Not to mention reducing the worries and risks for renters and landlords in light of the new reforms.
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