You may have heard in the news that the government will be introducing the Renters Reform Bill. You may also have some concerns with regard to what this means for you.
The aim of the bill is to essentially ‘reform’ the Private Rented Sector and to bring about a better deal for tenants by delivering safer, fairer, and higher quality homes for them; aims that are aligned with The Acorn Group and the landlords we work with.
The bill was introduced to parliament on the 17th May 2023, and will need to pass through parliament before becoming law. We anticipate the process to take at least a year to 18 months to come into effect.
There are several proposals, some of which may seem concerning. One of those being the intent to abolish Section 21 as a way of gaining possession, the ‘No Fault Eviction’ as it has been coined.
We have found that Section 21 is rarely overused or indeed misused by our landlords, but whilst there is a small percentage in the sector that use Section 21 for the wrong reasons, most landlords do not and are in the business of keeping their tenants in situ for as long as possible.
It should be noted that the intention of the new bill is to strengthen Section 8 grounds so that landlords can more easily gain possession of their properties in the event of breaches by tenants, such as continually paying rent late, or if there is a legitimate reason such as wanting to move back in or to sell the property.
Another proposal is to have a single system of periodic tenancies as opposed to fixed-term Assured Shorthold Tenancies. Again, whilst this may seem concerning, it is also proposed that tenants must provide two months’ notice to allow plenty of time to re-let the property.
There are other elements that will provide tenants with additional protections, but in our view, these protections are already being afforded by the Landlords using The Acorn Group.
We are committed to working with our landlords to provide suitable homes to all tenants, as well as raising standards, but also ensuring you are kept up to date with all new legislation as we continue to protect you and your assets. We will keep you updated with progress on the bill, but if you are unsure of any element, then please contact us, where we will be happy to discuss in further detail with you.