Stay Informed and Confident with Ashtons as Your Lettings Agent...
Ashtons, the leading lettings agency committed to providing exceptional service, is here to bring you the latest updates on the highly anticipated Renters (Reform) Bill. Our mission is to ensure that you, as a valued landlord, are well-informed and supported during these transformative times. With our expertise and guidance, you can navigate the upcoming changes with confidence and peace of mind.
The Renters (Reform) Bill, presented to Parliament for review on the 17th of May 2023, is a significant step toward creating a fairer private rental sector in accordance with the Government's White Paper, "A Fairer Private Rented Sector." This legislation seeks to address key concerns and deliver on the promise to abolish Section 21 'no fault evictions,' reform possession grounds, and introduce vital measures such as a new Ombudsman and Private Rented Property Portal.
At Ashtons, we understand that these developments may raise questions and uncertainties. Allow us to provide you with a comprehensive overview of the anticipated changes that the Renters (Reform) Bill will bring, empowering you to make informed decisions for your property portfolio.
Enhanced Possession Grounds: The new rules will grant landlords more comprehensive possession grounds, ensuring that you can still recover your property in situations such as selling or accommodating close family members. Flexibility remains a priority, and we will guide you through the process of exercising these rights effectively.
Streamlined Repossession: Repossessing properties where tenants are at fault, such as cases of anti-social behaviour or repeated rent arrears, will be made more accessible. We recognize the importance of protecting your investment while upholding tenants' rights, and we'll assist you in navigating this aspect of the legislation.
Section 21 'No Fault' Evictions: The bill intends to abolish Section 21 'no fault' evictions and shift tenancies to a rolling periodic state. Ashtons will be your trusted partner in adapting to these changes, ensuring that you are equipped with the knowledge and resources to manage tenancies seamlessly.
Fair Rent Increases: Tenants will be empowered to challenge excessive above-market rent increases aimed at forcing them out. However, landlords will still retain the ability to raise rents annually to market prices. With our in-depth market expertise, we'll guide you in maintaining fair and competitive rental rates.
Private Rented Sector Ombudsman: A new Private Rented Sector Ombudsman will be introduced to provide fair, impartial, and binding resolutions to various issues. Ashtons will be by your side, utilizing this resource effectively and ensuring that any concerns or disputes are handled efficiently and with your best interests in mind.
Property Compliance and Support: The Renters (Reform) Bill will bring a Privately Rented Property Portal to assist landlords in understanding their legal obligations and demonstrating compliance. At Ashtons, we'll ensure that you have the necessary tools and knowledge to meet these obligations effortlessly.
Decent Homes Standard and Inclusivity: Applying the Decent Homes Standard to the private rented sector will ensure safer and better-value homes for renters. Furthermore, the bill will outlaw blanket bans on renting to tenants in receipt of benefits or with children. We support these inclusive measures and will help you navigate any related considerations.
Ashtons are here to support you throughout the parliamentary review process, which includes a second reading of the act expected in the week commencing 5th June, followed by scrutiny in the House of Lords. Rest assured that we will keep you updated as these developments progress toward becoming law.
Stay informed, stay confident, and choose Ashtons as your preferred lettings agent. Together, we will navigate the Rent Reform Act and embrace the opportunities it presents for you and your property portfolio.
For more information and personalised assistance, please contact our dedicated team.
Disclaimer: The information provided is based on the current stage of the parliamentary review process and is subject to change. Ashtons will continue to update clients with any revisions or developments that may impact their planning and property portfolios.