The Renters Right Bill, which has been introduced to parliament this month, is set to represent a significant overhaul to the private rental market. The Bill still has a long way to go before it becomes law, but the Government has made it clear that they intend to prioritise getting it through parliament and aim to have it enacted, in part, as early as next spring.
As the proposed legislation takes shape, it’s important for Landlords to stay informed and up to date. You can find detailed guidance on the Bill here.
Some of the key highlights of the Renters Rights Bill are as follows:
Abolish Section 21 Evictions: Section 21 evictions (no fault evictions) will be abolished for new and existing tenancies.
End of Fixed-Term Tenancies: Fixed-term and assured shorthand tenancies will be replaced with periodic tenancies, allowing Tenants to end their tenancy by giving two months notice.
New Possession Grounds: Landlords will have new grounds to regain possession for reasons such as moving into the property or selling. Tenants will benefit from a 12 month protected period at the beginning of the tenancy, with Landlords providing a 4 month notice period when using these grounds.
Bidding Ban & Rent Increases: End the practice of rental bidding by prohibiting Landlords and agents accepting offers above the advertised asking price. Rent increases will be limited to once per year and only to the present market value.
Decent Homes Standard: Landlords must ensure properties meet the new Decent Homes Standard keeping renters safe.
Awaab’s Law: Setting clear legal expectations about timeframes within which Landlords must take action to serious hazards.
Protection Against Discrimination: Helping to ensure all Tenants in receipt of benefits or with children are treated fairly.
Pets: Landlords must consider and cannot unreasonably refuse a pet in a property but will be able to request pet insurance to cover any damage.