โผ๏ธ ๐ฅ๐ฒ๐ป๐๐ฒ๐ฟ๐ ๐ฅ๐ฒ๐ณ๐ผ๐ฟ๐บ ๐๐ถ๐น๐น: ๐๐ป ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ ๐ณ๐ผ๐ฟ ๐๐ฎ๐ป๐ฑ๐น๐ผ๐ฟ๐ฑ๐ โผ๏ธ
It looks like the Renters Reform Bill โ the biggest shake-up of the private rental sector in decades โ will become a reality in 2024.
So, how will it affect landlords? Hereโs a general overview.*
The bill will:
๐ก Abolish fixed-term tenancies.
๐ก Scrap Section 21 โno faultโ evictions.
๐ก Bolster Section 8, beefing up the existing grounds under which landlords can regain possession and adding new grounds for possession.
๐ก Allow landlords to increase rents once a year in line with market rates.
๐ก Give tenants the right to request to have a pet in the property. Landlords cannot โunreasonably refuseโ the request but can insist a tenant has pet insurance to cover potential damage.
๐ช๐ต๐ฒ๐ป ๐๐ถ๐น๐น ๐๐ต๐ถ๐ ๐ฎ๐น๐น ๐ต๐ฎ๐ฝ๐ฝ๐ฒ๐ป?
Insiders suggest it will come into effect around October, but as a general election is on the cards this year, itโs 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 โ๏ธ 01159455553 ๐งinfo@rexgooding.com
* The bill is currently going through Parliament and could be subject to change.
Share this with
Email
Facebook
Messenger
Twitter
Pinterest
LinkedIn
Copy this link