Nothing is quite as simple as it used to be, and whether you are renting your home or letting it, the guidance of a seasoned letting agent is a must-have. There is new legislation, such as the Renters Reform Bill, and the complexities of a competitive market. Add to these greater, greener government demands and simply finding a great place to rent that is maintained properly, and you realise the importance of a good letting agent.
The Renters Reform Bill
What is the Renters Reform Bill? The Renters Reform Bill was introduced to Parliament for its first reading on May 17, 2023. Its aim is to improve life for 11 million renters and 2.3 million landlords in the UK, and it is based on five years of research conducted with landlord and tenant groups.* Here are some of its proposals:
- the removal of Section 21
- improved grounds for possession under Section 8
- the change from assured shorthold tenancies to periodic
- the creation of a property ombudsman
Has the Renters Reform Bill been passed?
Not yet. It’s at a very early stage of a long journey through parliament. The earliest date it may be passed is probably the first quarter of 2024. Then it will take at least 6 months before it comes into force for new tenancies, and 18 months for existing tenancies.
What does it mean for landlords?
Section 8 will be strengthened, which allows landlords to end tenancy agreements early if they have good reason to do so. Despite the fears some have expressed about abolishing Section 21 - ‘no fault’ evictions, the reality is that it will make it easier for landlords to evict tenants for anti-social behaviour and repeated missed rent payments. While blanket bans on pets have also been proposed, with the new legislation in place, landlords can insist on their tenants' pets having pet insurance, certificates, and, in the case of dogs, being microchipped. Landlords will be able to increase rents, but the notice period to do so will be doubled.
Maintaining your property
Whether you are a landlord or a tenant, it pays to opt for a fully managed service. If there are any repairs needed to the property, they will be taken care of. That allows both parties to enjoy a good night’s sleep, whatever happens!
Keeping it legal
Estate agents make it their business to keep one step ahead of the game when it comes to legislation and paperwork. That keeps the property in question compliant for all. Failure to do so can lead to fines for landlords. If you are a tenant and want your reference or deposit taken care of, then this is just as much in the interests of the landlord.
It's about working together
Letting agents are the bridge between the ever-more complex landlord-tenant relationship. And it’s comforting for both parties to have an expert on your side that you can call at any time.
Contact Martyn Gerrard today for a better rental service.
GOV.UK*
