Tough times ahead for landlords?
More than two in five landlords are not aware of the proposed Renters’ Reform Bill, a new survey1 claims, despite the impact it will have on their portfolios.
The proposed legislation, which is set to be voted on before May 2023, includes many significant elements. If passed in full, the act will:
- Scrap section 21 ‘no fault’ evictions
- Create a register of landlords
- Introduce a private rented ombudsman to help enforce renters’ rights
- Make it illegal for landlords and agents to refuse to rent properties to people who receive benefits
- Give local authorities more power to enforce and protect renters’ rights.
According to the survey, 47.55% of landlords are ‘strongly concerned’ or ‘concerned’ about not being able to refuse to rent properties to people who receive benefits.
1Finbri, 2023