The Renters’ Rights Bill is coming, read and watch below for more info.
We were pleased to host a webinar on the 25th September with industry expert, David Smith on the new Renters’ Rights Bill. If you missed the webinar if can be viewed on our YouTube channel or below:
The new Bill replaces the previous Government’s attempt at reforming the lettings landscape which fell when the general election was called. Whilst the new Bill is heavily based on the previous one, it has been significantly tightened in multiple areas including anti rental bidding rules and longer notice periods for most eviction grounds. All the previous planned changes including the end of S21, no fixed term tenancies, the end of termly rent payments (to be replaced by monthly),the end of rent in advance (in excess of a month), and 2 months break clauses for tenants are all there. This will have a major impact on student landlords.
However, one major change is the plan to bring the changes in on day one meaning that all new and existing tenancies will be impacted by these changes once the Bill becomes law. This is significant as the previous Bill planned to have a phased implementation which would have left existing tenancies to run for a year before the change occurred. In practice, this means that new tenancies entered into from November 2024 (when the new lettings period starts) will leave many of the major clauses nullified when the Bill comes into force. The Government is stating that they want this on the statute books by next summer with October 2025 being the latest for it to appear. In effect, landlords will probably need to rewrite the agreements once the law changes as much of the agreement won’t be enforceable and could result in penalties being imposed, for example, requesting rent termly.
Whilst this seems unremittingly bleak, Sulets have developed a solution and we will be contacting our landlords shortly to say how we can help.