‼️ 𝗥𝗲𝗻𝘁𝗲𝗿𝘀 𝗥𝗲𝗳𝗼𝗿𝗺 𝗕𝗶𝗹𝗹: 𝗔𝗻 𝗨𝗽𝗱𝗮𝘁𝗲 𝗳𝗼𝗿 𝗟𝗮𝗻𝗱𝗹𝗼𝗿𝗱𝘀 ‼️
It looks like the Renters Reform Bill – the biggest shake-up of the private rental sector in decades – will become a reality in 2024.
So, how will it affect landlords? Here’s a general overview.*
The bill will:
🏡 Abolish fixed-term tenancies.
🏡 Scrap Section 21 ‘no fault’ evictions.
🏡 Bolster Section 8, beefing up the existing grounds under which landlords can regain possession and adding new grounds for possession.
🏡 Allow landlords to increase rents once a year in line with market rates.
🏡 Give tenants the right to request to have a pet in the property. Landlords cannot ‘unreasonably refuse’ the request but can insist a tenant has pet insurance to cover potential damage.
𝗪𝗵𝗲𝗻 𝘄𝗶𝗹𝗹 𝘁𝗵𝗶𝘀 𝗮𝗹𝗹 𝗵𝗮𝗽𝗽𝗲𝗻?
Insiders suggest it will come into effect around October, but as a general election is on the cards this year, it’s not set in stone.
We're here to help landlords across the East Midlands navigate their way through these changes. Contact us to find out more about the Renter Reform Bill ☎️ 01159455553 📧email@example.com
* The bill is currently going through Parliament and could be subject to change.