The Future of Renting: What to Expect Under the New Labour Government
As you may be aware, the Renters Reform Bill had reached a crucial point in working its way towards becoming Law, but the recent General Election stopped that from happening. This means that under the new Labour Government, we should start hearing about the plans they intend to put in place.
The Future of Renting: What to Expect Under the New Labour Government
As you may be aware, the Renters Reform Bill had reached a crucial point in working its way towards becoming Law, but the recent General Election stopped that from happening. This means that under the new Labour Government, we should start hearing about the plans they intend to put in place.
What to Expect Moving Forward
Even though the word immediately is being used frequently, the process to implement change will not be that quick. The Government will rely on civil servants to act and work through new legislation possibly using the outline of the Renters Reform Bill as a foundation.
1. National Landlord Register (NLR)
The introduction of a National Landlord Register (NLR) will require landlords to submit independent evidence of property and management compliance. This includes documents such as gas safety certificates, Electrical Installation Condition Reports (EICRs), and Energy Performance Certificates.
2. Abolishing Section 21
One of the major changes proposed is the abolition of Section 21. Currently a Section 21 allows landlords to evict tenants without reason. There has been reference to this happening in the first 100 days of Government, but this will be a complex amendment and change
3. Rent Increases and Reviews
Under the new proposals, rent increases and reviews will require landlords to give tenants four months' notice. There was also a recommendation that rent review clauses should be excluded from tenancy agreements, which would indicate that any rent increase may be triggered using a section 13(2) notice
4. Preserving Long-Term Rental Stock
Measures to stop PRS landlords moving to other sectors will be introduced, such as, the short-term and holiday let sector, or the more profitable nightly-paid temporary accommodation and a supported housing sector must be introduced to preserve the stock of homes available for long-term let
5. Ending Tenant Bidding Wars
The Labour Government seeks to end the practice of tenant bidding wars, where prospective tenants can offer higher rent to secure a property, thus driving up prices and making housing less affordable.
6. Extending Awaab’s Law to the Private Rented Sector
Awaab’s Law, which addresses housing conditions and tenant rights, is set to be extended to the private rented sector, ensuring all tenants benefit from improved living standards.
The King's Speech and Legislative Changes
The King's Speech, taking place today, will outline the Government's plans, including those related to housing and the private rented sector. This will give us a clearer picture of the legislative changes to come.
Supporting You Through Change
We are committed to keeping you informed and providing the support you need to navigate any legislative changes introduced by the new Government. Stay tuned for updates and guidance as we move forward in this new era for renters and landlords alike.
Sal Isherwood
Head of Lettings
01748 834373
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