RESEARCH

Unpacking the Renters Reform Bill: Key Insights for Landlords and Tenants

The Renters Reform Bill is set to introduce some of the most significant changes to the UK's private rental sector in over three decades. As industry leaders, JLL is at the forefront of understanding these reforms and their implications. In this comprehensive video interview, Lucy Morton, Head of JLL Residential Agency, breaks down the essential aspects of the bill and what they mean for both landlords and tenants.

Key Takeaways from the Renters Reform Bill

  1. Abolition of Fixed-Term Tenancies The bill will remove expiry dates from all fixed-term contracts under Assured Shorthold Tenancies, converting them to periodic month-to-month rolling contracts. This change aims to provide greater stability for tenants while potentially reducing void periods for landlords.
  2. Changes to Rent Increases Landlords will retain the right to increase rent to 'fair market value' annually, with a two-month notice period. Tenants will have the option to challenge increases through the First Tier Tribunal, ensuring fairness in the process.
  3. End of "No-Fault" Evictions The controversial 'Section 21' or 'no-fault' evictions will be replaced by enhanced Section 8 notice grounds. This change offers tenants increased security while preserving landlords' rights to repossess properties under specific circumstances.
  4. New Pet Policies Landlords will be required to consider pet requests more favorably, potentially increasing the number of pet-friendly rentals in the market.
  5. Introduction of Decent Homes Standard This new standard aims to ensure rental properties meet minimum quality conditions, promoting better living environments for tenants.
  6. Mandatory Landlord Registration A national database for landlords will be introduced, enhancing transparency and accountability in the sector.
  7. Enhanced Local Authority Powers Local authorities will have increased powers to investigate and enforce compliance, with potential fines for non-compliant landlords.

Preparing for the Changes

For landlords, it's crucial to ensure all property compliance measures are in place and up to date. This includes Energy Performance Certificates (EPC), Electrical Installation Condition Reports (EICR), gas safety certificates, and providing tenants with the latest How to Rent guide.

For tenants, these changes promise greater stability and rights, but it's important to understand the new processes for rent reviews and dispute resolution.

JLL's Perspective

At JLL, we view these changes as an opportunity to further improve industry standards. We are committed to helping our clients navigate these reforms smoothly and continue to provide best-in-class services in the evolving rental landscape.

Watch the full interview with Lucy Morton for an in-depth analysis of the Renters Reform Bill and its implications for the UK property market.

For more information on how these changes might affect you, or for assistance with your property needs, please contact our expert team at JLL.

Related articles