The Future of the Private Rented Sector- Post Election
The Renters Reform Bill had reached a crucial point in working its way towards becoming Law, but the fact that a General Election stopped that from happening.
This means that under Angela Rayner, Secretary of State for the Dept of Levelling Up the department which oversees Housing and Matthew Pennycook MP, the new Housing Minister, we should start hearing about the plans they intend to put in place under the Labour Government.
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.
The Labour Party campaign includes:-
- The introduction of a National Landlord Register (NLR) which will oblige landlords to submit independent evidence of property and management compliance, e.g.; gas safety certificates, EICRs, Energy Performance Certificates
- Abolishing Section 21. There has been reference to this happening in the first 100 days of Government, but this will be a complex amendment and change
- Rent increases / reviews will be permitted with tenants being given four months’ notice. There was also a recommendation that rent review clauses should not be included in tenancy agreements, which would indicate that any rent increase may be triggered using a section 13(2) notice
- Measures to stop PRS landlords moving to other sectors such as the short-term and holiday let sector or the more profitable nightly-paid temporary accommodation and supported housing sector must be introduced to preserve the stock of homes available for long-term let
- Ending tenant bidding wars between tenants
- Extending Awaab’s Law to the private rented sector
The King’s Speech takes place on the 17th July 2024 and will include an outline of the Government’s plans for the future which will include housing and the private rented sector.
We will provide you with further information and the support you require to navigate any legislative changes that the Government introduces.
