Comment
LANDLORD DATABASE & OMBUDSMAN SCHEME Labour’s Renters’ Rights Bill would also introduce a mandatory private landlord database and the requirement for landlords to join an ombudsman scheme. Te database aims to enhance transparency by tracking landlord compliance and penalties, while the ombudsman would provide an accessible way for tenants to resolve disputes. Tis aligns the private rented sector more closely with the social housing model’s regulatory standards.
IMPACT ON THE RENTAL MARKET Tese reforms would offer a significant boost to tenant security and affordability. Te abolition of Section 21 means tenants no longer need to fear sudden evictions without a valid reason, and limits on rent increases would provide greater financial predictability. Te introduction of Awaab’s Law would ensure that landlords must address unsafe living conditions quickly, greatly improving the quality of rental housing. However, there are potential downsides, as the increased regulatory burden on landlords could reduce the supply of rental properties, making it harder for tenants to find homes and potentially increasing rents for new tenancies. While the bill introduces more stringent regulations, there are still clear
eviction grounds, such as rent arrears and anti-social behaviour, providing landlords with predictable avenues to regain possession. Tough rent increases are restricted, landlords can still adjust rents annually in line with market conditions. Meeting the Decent Homes Standard may also improve property desirability, potentially reducing vacancy periods and attracting quality tenants. However, the need to comply with these new regulations, such as joining a landlord database and adhering to strict maintenance timelines, may increase administrative burdens and financial pressure, leading some landlords to leave the market.
“These changes bring challenges but also opportunities for landlords to elevate their service standards”
Allison Thompson, Leaders Romans Group (LRG) Tese changes bring challenges but also opportunities for landlords to elevate
their service standards, align more closely with tenant needs, and contribute to a more transparent rental market. While these reforms are intended to stabilise the rental sector, this might
impact supply and could lead to higher rents for new tenancies in the medium to long term if rental stock decreases significantly. In summary, the Labour Renters’ Rights Bill represents a significant shiſt
towards stronger tenant protections and stricter regulatory requirements for landlords. While these changes could enhance living conditions for tenants and build a fairer rental system, they also place additional responsibilities on landlords, who would need to adapt to this new landscape. As always, staying informed and proactive in addressing compliance requirements will be key for landlords navigating these changes.
Allison Tompson is national lettings managing director at Leaders Romans Group (LRG)
www.housingmmonline.co.uk | HMMOctober/November 2024 | 25
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