Renters’ Rights Bill could worsen housing crisis – Propertymark

Renters’ Rights Bill could worsen housing crisis – Propertymark

9:29 AM, 14th October 2024, About 3 hours ago 1

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The unintended consequences of the Renters’ Rights Bill for the private rented sector (PRS) could make the housing crisis worse, Propertymark warns.

It says that while the Bill is designed to protect tenants, landlords who cannot gain possession will leave the PRS – pushing up rents.

Over the past decade, the PRS has faced legislative changes, including a stamp duty surcharge, minimum energy efficiency standards and a ban on tenant fees.

The organisation warns that these changes have made it more challenging for landlords and agents to operate and invest in the sector.

The rights of tenants and landlords

Propertymark’s chief executive, Nathan Emerson, said: ”Legislation must be balanced when it comes to protecting the rights of both tenants and landlords, something Propertymark has long argued for.

“However, there must be a workable system implemented that delivers fairness for everyone.

“Tenants should be confident they have a stable and secure home, and landlords must be able to gain possession of their properties from disruptive tenants via adequate means.”

He adds: “If this legislation is not carefully implemented it has the potential to cause long-term issues that might be extremely difficult to undo.”

Section 21 ‘no-fault’ evictions

The Bill will ban Section 21 ‘no-fault’ evictions and make it easier for tenants with children and pets to find homes.

Propertymark argues that while reform is necessary to address the issue of criminal landlords, over-regulating the market will mean fewer homes as landlords sell up.

The organisation’s Housing Insight Report found that an average of 10 new applicants competed for each available rental property.

Propertymark also highlights other unintended consequences of the Renters’ Rights Bill, including the impact of ending fixed-term tenancies, particularly for students.

The potential strain on the court system is also a worry.

Propertymark also wants statutory rules to ensure letting agents are suitably qualified to help raise PRS standards.


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Cider Drinker

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10:51 AM, 14th October 2024, About An hour ago

The housing crisis is caused by over-population. The crisis worsens every day.

Losing PRS properties to holiday lets or second homes has a marginal impact on the housing shortage.

The RRB will reduce the number of rental properties available but will ensure owner-occupancy rates increases.

With around a million new tenants coming to the U.K. each year, Labour had better revise their 1.5 million house building target. They are 5% into their 5 year term and I don’t see 75,000 new affordable homes being made available yet.

The alleged £22 billion black hole will seem like chicken-feed when the champagne socialists are ousted at the next election.

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