Are you ready for The Renters’ Rights Bill?
You’ve probably skimmed a few headlines. Maybe you’ve read a few articles. It was the Renters’ Reform Bill and now the Renters’ Rights Bill and still there have been no changes to the lettings market. Perhaps you’ve even told yourself it’ll all get watered down before, or even if, it becomes law. But the truth is that, whether the Bill lands exactly as planned or not, the direction of travel is clear—and now is the time to prepare.
Let’s take a moment to ask some uncomfortable (but necessary) questions.
1. Are You Ready for a Rolling Periodic Tenancy?
The Bill proposes a move to rolling monthly contracts, replacing fixed term tenancies. This gives tenants the right to leave with just two months’ notice, whenever they choose.
Have you thought about what that means for your cash flow, void periods, and planning? Can you adapt quickly if a tenant decides to up and leave in January? Do you know what contract you need to issue at relet?
This change is designed to increase tenant flexibility. But for landlords, it means building much more resilience into your business model. This includes ensuring that your property is rented at the right market value and to the right tenants, along with making certain that your paperwork is correct, relevant and updated regularly.
2. How’s Your Record-Keeping?
The Renters’ Rights Bill is ushering in a new era of transparency and accountability. If you self-manage, you’re your own compliance officer. That means:
- Logging repairs and responses
- Keeping communication trails tidy
- Ensuring deposits are protected correctly and issuing the necessary documents.
- Staying on top of licensing, EPCs, and safety certificates
- Serving relevant documentation at the correct time
If a dispute arises, can you be certain that you have the necessary documents in place?
Lots of our landlords were surprised to learn they will be legally required to join a mandatory redress scheme. The Ombudsman will have binding powers to resolve disputes impartially
3. Do you know what to do if you want your property back?
The end of Section 21 is at the heart of the reforms. Instead, you’ll need to rely on specific, government-approved reasons to regain possession—like selling the property or moving in a family member.
If a tenant disputes your reason, are you confident your notice would hold up under scrutiny? For self-managing landlords, even those who may have relied on section 21s in the past, this is a seismic change that will require careful and concise planning.
Final Thought: This Is Happening—Ready or Not
Self-management can be rewarding but is often used as a method to save money, as opposed to instructing an Agent to handle matters on your behalf.
- Do you need to professionalise your systems?
- Would passing the compliance burden to a trusted agent make sense?
- Or are you fully ready to meet this new chapter head-on?
If you need help understanding what the Bill means for your properties or you are thinking about making the switch to a managing agent, we’re here to talk it through—no pressure and no commitment.
Want to discuss your options?
Give us a call on 01233 506240 or drop one of us an email
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