The Renters Reform Bill, which came into effect in June 2023, aims to bring about changes in the private rented sector. The bill is there to improve the experiences of both landlords and tenants in the renting process and aims to make the transactional experience of both parties fairer and more transparent.
In this article, we will take a look at:
Key changes that will affect landlords
What can landlords do in response to the new renters reform bill?
Key changes that will affect landlords:
Let’s look at some of the key changes that are taking place that will affect landlords specifically.
- Tenants will be able to request permission to have pets on the property without landlords automatically refusing this.
- Landlords will have the ability to increase rent prices more easily, subject to the approval of an independent tribunal.
- Landlords can move close family members into their property without having to evict current tenants.
- Landlords will have the ability to sell their property without having to evict current tenants.
- The abolition of Section 21 “no-fault” evictions provides tenants with more security and empowers them to challenge any unfair rent increases.
- The introduction of more comprehensive possession grounds will make it easier for landlords to repossess properties when tenants display unwanted behaviour, such as anti-social behaviour or if rent is in arrears.
- A new Private Rented Sector Ombudsman will be introduced, who will act as a mediator between landlords and tenants should any disputes arise.
- A Privately Rented Property Portal will provide information on legal obligations for landlords and tenants.
As you can imagine, these changes are designed to make the private rented sector beneficial for everyone involved. Overall, the Renters Reform Bill is a positive step forward and is meant to calm any anxieties regarding the letting process between landlords and tenants.
What can landlords do in response to the new renters reform bill?
Change can be scary, especially when the change is related to legislation and regulation. So, here are a few things that you, as a landlord, can do to ease the pressure that comes with reform.
First of all, it would be a wise idea to educate yourself on the new legislation so that you are aware of what exactly is expected of you as a property owner. A few other things that you can do is review your tenancy agreements with your tenants to make sure that you are compliant with any new rules.
On a more interpersonal level, try and become more familiar with who your tenants are and get to know them better. When you have a good relationship with your tenants, you will be able to work cohesively to make sure that you are both happy with any agreements put in place.
Another great avenue to use is the new ombudsman service. Make sure that both yourself and your tenants are able to access the service should you need to. Make sure that you are prepared as a landlord. Equally, if you wish to learn more about landlord insurance, explore here.
