The Renters Rights bill edges closer to becoming law with MPs due to scrutinise it line-by-line next week. But concerns continue to be aired across the industry on what the impact might be.
Together chief commercial officer Ryan Etchells points out that in theory, hopes are for a more balanced system between the rights of renters and landlords including a new ombudsman to better settle disputes and possible eviction cases.
The appetite for buy-to-let (BTL) overall remains robust however, he insists there are still, rightly, some major concerns as individual, private landlords reassess their property plans this year for fear of a tougher climate.
“For example, while promises have been made to strengthen Section 8 evictions for landlords – the complete removal of Section 21 or ‘no fault’ evictions could see unjust cases overlooked or ignored – causing costly and time draining situations for legitimate landlords.
“And, while the creation of a new Private Rented Sector Database to provide more tenancy information to both landlords and tenants on their rights sounds promising – in truth how many will actually stop to read the fine print?”
Etchells agrees that it is vital for renter’s finances to always be carefully considered so there is no undue pressure exacted on any tenancy agreement. However, he adds that it is only fair that this new bill also includes a strengthening of rent repayment orders as well to ensure repeat offenders repay the maximum amount.
“It’s important that the bill addresses the concerns of both parties. A failure to do so could mean another dead duck of legislation being passed.”
Propertymark head of policy and campaigns Timothy Douglas commented that whilst the UK Government wanted to transform the experience of private renting, by banning the taking of rent in advance they were potentially reducing options for tenants to access private rented property.
“There are a wide range of circumstances and scenarios that impact how people pay their rent, for instance some renters are on fixed incomes, not all tenants pass referencing and affordability checks, and some have insecure incomes due to their work arrangements.”
