The Renters’ Reform Bill is set to bring significant changes to the UK rental market, aimed at increasing protection for tenants while maintaining balance for landlords. Read on to learn how these reforms might affect you and how Carrington Thorn can guide you through these changes.
What is the Renters’ Reform Bill?
The Renters’ Reform Bill is a major piece of legislation designed to improve the rental experience for millions of private renters in the UK. Key features include:
- Abolition of Section 21 ‘no fault’ evictions: Landlords will no longer be able to evict tenants without providing a valid reason, such as selling the property or moving a family member in.
- Periodic tenancies: Fixed-term contracts will be replaced by open-ended tenancies, giving tenants more security, while still allowing landlords flexibility under certain circumstances.
- Rent control: Rent increases will be limited to once per year, and tenants will have more rights to challenge any unfair rises.
- A mandatory ombudsman: All landlords will need to join a redress scheme, offering tenants a formal route to resolve disputes.
- A new property portal: Landlords must register their properties, ensuring transparency and accountability across the rental sector.
Learn more about the Renters’ Reform Bill from the UK Government’s White Paper.
Who Will It Affect?
This bill will affect both tenants and landlords across England. Tenants will benefit from increased security, especially those previously at risk of sudden evictions, while landlords will need to adapt to new rules regarding evictions and tenancy management.
For tenants: These reforms offer more long-term security, preventing sudden evictions and rent increases.
For landlords: It will require compliance with stricter regulations, including proving the grounds for repossession and joining the mandatory ombudsman scheme.
When Could It Be Introduced?
The Renters’ Reform Bill has been moving through Parliament since May 2023 and is expected to pass by late 2024. However, not all provisions will take effect immediately. For instance, the abolition of Section 21 evictions will be delayed until the court system is reformed to handle the anticipated increase in eviction cases.
Why Choose Carrington Thorn?
With such sweeping changes on the horizon, having an experienced letting agent like Carrington Thorn is crucial. Here’s how we can help:
- Expert navigation: The new regulations are complex, but we’ll make sure both landlords and tenants remain compliant, avoiding costly mistakes.
- Minimising risk: We assist landlords in ensuring properties are properly registered and help avoid issues like serving invalid notices or falling short of new standards.
- Tenant satisfaction: Understanding tenants’ new rights will help maintain positive relationships, leading to longer, more stable tenancies.
- Forward planning: We’ll help you prepare for upcoming changes, such as the ombudsman or rent controls, so you’re always a step ahead.
Contact Carrington Thorn today to learn more about how we can help you navigate these significant changes in the rental market.