Renters Right Bill update
The Renters Rights Bill is new legislation being introduced to improve the current system for both the 11 million private renters and 2.3 million landlords in England and is set to bring about the biggest changes to tenancy laws in a generation.
The Bill seeks to abolish fixed term assured and assured short hold tenancies, to transform the experience of private renting. This will include ending Section 21 ‘no fault’ evictions to give tenants much greater security and stability. It will also impose further obligations on landlords in relation to rented homes.
As this is new legislation, Members of the House of Lords will begin their detailed examination of the Renters' Rights Bill in committee.
The Committee stage is a thorough examination of the individual parts (clauses) of the bill. This started, Tuesday, 22 April and will run until 6 May 2025. Members speaking on the committee stage will put forward amendments (changes) to the bill such as mandatory qualifications for letting agents, retaining fixed term tenancies as an option, court capacity for when no fault evictions are abolished and extending the deposit cap for renting with pets.
Propertymark has urged the Government to act on amendments to ensure it is workable for both landlords and tenants.
After the Committee Stage concludes, the Bill will move to the Report Stage, which will likely conclude in June. This means that the Royal Assent (when the legislation is formally approved). for the Renters’ Rights Bill could be in the Autumn.
Here at Mundys we are committed to helping you guide through the changes as they arise. If you would like to discuss your property or the legislation, please contact us to arrange a call.