New era for renting must work for landlords and tenants

The Government’s landmark Renters’ Rights Bill has today received Royal Assent, officially becoming law and paving the way for the most notable reform of the private rented sector in almost four decades. 

The new Renters’ Rights Act introduces a far-reaching set of changes, which include the abolition of fixed-term tenancies and Section 21 notices.

Responding to the Renters’ Rights Act receiving Royal Assent, Ben Beadle, Chief Executive of the National Residential Landlords Association (NRLA), said:
    
“After years of debate and uncertainty, today marks an important milestone for the private rented sector. With the Renters’ Rights Act now on the statute book, the sector needs certainty about the way forward.

“This is the most significant shake-up of the rental market in almost 40 years, and it is imperative that the new systems work for both tenants and responsible landlords. The NRLA stands ready to work with the Government to ensure the reforms are implemented in a way that is fair, proportionate and deliverable.

“The Government now needs to engage meaningfully with those providing the homes so desperately needed, to ensure implementation of the Bill is realistic and aligns with the practicalities of the market – not least the need for clarity well in advance of the next academic year for student housing.

“At a minimum, the sector needs six months’ notice before implementation to ensure a smooth and seamless transition, and the Government must provide certainty on this as soon as possible.”

Ben Beadle continued: 

“The Government must also recognise the vital importance of a thriving private rented sector not only to meet tenant demand but to the national economy. It is essential that the Government’s reforms do not worsen the supply crisis by discouraging long term investment in the homes to rent that so many rely on.

“As the changes bed in, the Government should commit to ongoing monitoring of their impact and ensure its findings are published.”

-ENDS-
 
Notes:

•    Further information about the NRLA can be found at www.nrla.org.uk.  It posts on X @NRLAssociation.

•    The NRLA’s press office can be contacted by emailing [email protected] or by calling 0300 131 6363.