10/10/2024
Renters reform bill, what we know so far..
I’m assuming you will have heard some of the proposed changes announced in the Renters Reform bill. These changes are the biggest shake up the property industry has seen in over 30 years!
1. Assured shorthold tenancies (AST) to be replaced with Assured Tenancies.
This means NO fixed term tenancies can be created. This gives the tenant more flexibility to relocate giving only 1 months’ notice at any point during the tenancy.
2. Abolishment of section 21 notices.
Landlords and Agents will no longer be able to serve section 21 notices, known as the ‘no fault eviction’. This will also bring some major changes to HM Courts system and more of a digitised process to process section 8 notices. The notice period on section 8 notices will also be amended to 4 weeks, as appose to 2.
3. A Property Ombudsman.
All landlords will be required to register with the ombudsman, even if they have a letting agent.
Tenants can access the ombudsman and seek redress for any issues during their tenancy, including the standard of the property and failure to complete repairs in a timely manner.
4. Property portal
The property portal will be a centralised database which will include Landlords names and all their rental properties and full addresses. This will be a mandatory portal which landlords must join. The property portal will display any previous banning orders.
Whilst there are other changes included in the bill, including pets in lets and a blanket ban on not letting properties to those on any form of benefits, the above are some of the major key points to note (at this stage).
