As you are probably aware by now, the Renters Reform Bill was introduced on 17 May 2023 and aims to abolish ‘no fault’ evictions in England. This may sound daunting to landlords, but the aim of this bill is to set out a fairer rented sector. The saying ‘knowledge is power’ has never been more relevant to the property industry.
With Toller Property Group, you will gain insight into the bill and how this will influence the way in which you handle your property business. Get in touch with me today for more information on how we can support your business.
What does the bill say?
Before we establish the importance of understanding the Renters Reform Bill as a landlord, we should take a look at the information within the bill first. There is a lot of information in the bill, but understanding the main points of the bill is good enough to set you up for success as a landlord.
The basis of the Renters Reform Bill is to reassure tenants that their housing is secure and that their well-being is being taken care of. The bill also highlights the fact that “nearly a quarter of private rented homes do not meet basic decency standards” (“Guide to the Renters (Reform) Bill”).
As a result of this, the government will be implementing something called the Decent Homes Standard, which will set the bar for the way in which housing is accessed by tenants.
On the other side of the coin, the bill looks to give support to landlords who have reason to evict tenants on the grounds of anti-social behaviour or who willfully don’t pay their rent. The bill will give landlords the peace of mind to know that they will be able to take their property back should their circumstances change or due to tenants behaving anti-socially.
In summary, the Renters Reform Bill will look to:
- Abolish Section 21 ‘no fault’ evictions and move to a simpler tenancy structure where all tenancies are periodic to provide more security
- Introduce more comprehensive possession grounds so that landlords can still recover their property and make it easier to repossess their property where tenants are at fault
- Provide a platform for tenants to be able to appeal excessive rent increases that are designed to get them to leave the property
- Introduce a Private Rented Sector Ombudsman that will provide fair and binding solutions to issues faced between landlords and tenants
- Introduce a Private Rented Property Portal so that landlords have access to legal information and understand their obligations
- Give tenants the right to request to have a pet
Why should you become familiar with the Renters Reform Bill?
So, why should you as a landlord know about the Renters Reform Bill? There are many reasons why being familiar with this bill will benefit you and your property portfolio.
The power of knowledge
As a property management company, we recognise that knowledgeable landlords make better decisions. When you are well informed about Section 21 and Section 8 regulations, you will be able to navigate tenancy terminations, handle evictions and avoid potential legal issues.
As a landlord, you will feel empowered to handle any issues professionally, which will aid in building trust and rapport with your tenants. At Toller Property Group, we have all of this knowledge and can pass this on to you in a more digestible way.
Adapting to future changes
By becoming familiar with the new Renters Reform Bill you will be able to keep up-to-date with the dynamic rental market and how these changes affect landlords as a whole.
Change can be difficult as we are all creatures of habit, however, we will help you adapt to these changes in a way that helps your property portfolio thrive and go from strength to strength.
Compliance is key
One of the main benefits of hiring Toller Property Group to assist you in your property business is that you can rest assured knowing that you are doing everything by the book.
You’ll begin to understand the importance of adhering to Section 21 and Section 8 regulations, how non-compliance can result in costly consequences, and the benefits of working with a property management company that is well-versed in these legal matters.
Team up with Toller Property Group today for all of your property management services!