Renters Reform Bill Update – Second Reading in the House of Lords

/ Maplewood Property & Investments Ltd/
Renters Reform Bill Update – Second Reading in the House of Lords

The Renters Reform Bill is progressing through Parliament, with its second reading in the House of Lords scheduled for tomorrow, 4th February 2025. If the Bill continues on schedule, it could be enacted before the Easter Recess (9–21 April) and receive Royal Assent in late April or early May.

However, the exact commencement date remains uncertain and this could come into effect in the summer, autumn or towards the end of the year, all of which, would allow the industry a little extra time to prepare for the changes.

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The Realities of Limiting Rent in Advance

/ Maplewood Property & Investments Ltd/
The Realities of Limiting Rent in Advance

Last week, MPs approved a new one-month limit on advance rent payments in England as the Renters' Rights Bill moves closer to becoming law. Whilst headlines proclaimed "Landlords face ban on ‘outrageous’ upfront charges”, the reality is that rent paid in advance is often the only way to provide landlords with security where tenants fail to meet affordability criteria.

This measure in the Bill aims to address unfair practices but has sparked concern among landlords and those aware of the complexities of the rental market, particularly in cities like London. A one-size-fits-all approach across the country may not work for the diverse circumstances of tenants and landlords alike.

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Renters' Rights Bill Moves to Key Report Stage

/ Maplewood Property & Investments Ltd/
Renters' Rights Bill Moves to Key Report Stage

The Renters’ Rights Bill is set to reach its report stage in mid-January, marking a major milestone on its path to becoming law. Starting 14th January, MPs will examine the legislation line by line.

Introduced in September 2024, key features of the new legislation will:

  • Abolish Section 21 evictions and transition all assured shorthold fixed-term tenancies to periodic tenancies

  • Prohibit rental bidding and ensure landlords and agents publish a fixed asking rent

  • Create a Private Rented Sector Database for landlords

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The New Renters' Rights Bill

/ Maplewood Property & Investments Ltd/
The New Renters' Rights Bill

The UK government's Renters' Rights Bill, introduced in September 2024, aims to enhance tenant protections and address longstanding issues in the private rented sector. Key provisions of the bill include:

  • Abolition of Section 21 Evictions: The bill seeks to eliminate 'no-fault' evictions under Section 21, preventing landlords from terminating tenancies without a valid reason. This change is intended to provide tenants with greater security and stability in their homes.

  • Regulation of Rent Increases: The legislation proposes limiting rent increases to once per year and requires that any proposed increase be in line with market rates. Tenants will continue to have the right to challenge unjustified rent hikes through a tribunal.

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