Agents - are you ready for the Renters’ Rights Bill?

by Craig Vile

For the landlords on your books, the Renters’ Rights Bills marks the most significant change to the private rented sector in more than 40 years.

Ensuring that your clients are ready for the change, and have updated their properties, policies and tenancy agreements to take the new legislation into account once it comes into force, will be vital.

So, where to start?

Educate your landlords about the implications for their business

Your landlords will know that the Renters’ Rights Bill is coming but may be confused or concerned about its implications. They will value your expert advice in explaining what needs to be done and what changes they need to make. If you are managing properties on their behalf, they will want to understand what you can do for them and that they will comply with the new obligations. You could organise webinars, produce e-books or simply be on hand to provide help when they need it.

Advise them on new possession grounds

One of their biggest concerns is likely to be understanding the revised possession grounds since section 21 no-fault evictions will no longer be allowed. Instead, mandatory and discretionary grounds are being revised by government. Landlords will need to be clear about which ones they can use and the notice periods that apply.

Set accurate asking prices

Another of the most significant changes in the bill will be around the setting of rents. It will require the advertising of a set rent for the property and neither the landlord nor you as the letting agent acting on their behalf, will be able to accept bids beyond that price.

This means that accurate pricing will become crucial, especially since once the rent is set, the only way a landlord will be able to increase it will be through a section 13 notice – which can only be served once a year.

Encourage them to improve standards early

The Decent Homes Standard and the introduction of Awaab’s Law to the private rented sector both aim to improve living standards in rented accommodation. The first will mean that properties must meet minimum quality standards. The second, Awaabs Law, will set strict timescales in which hazards – such as damp or mould within a property - must be resolved.

In addition to this, there are also changes afoot around energy efficiency as Minimum Energy Efficiency Standards are revised and EPC ratings change. Although these latter two changes aren’t part of the Renters’ Rights Bill itself, general improvements in the quality of a property – especially around how comfortable it is to live in - will make it more attractive. Bringing their properties up to standard early will help them find and retain tenants.

Promote inclusiveness

The Renters’ Rights Bill will also stamp out discrimination of tenants with children or who are on benefits, as well as give tenants greater rights to have a pet in their property. Encourage your landlords to be fully inclusive ahead of the changes, as well as pet or child-proofing their property in preparation.

 

Keep an eye out for our April blog where we’ll show you how agents can leverage the Renters’ Rights Bill to attract more landlords.

Need help navigating the RRB legislation? Get in touch at - team@valpal.co.uk - we’ve got it covered.