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Worcestershire estate agent Nicol & Company said private landlords should oppose plans to sell and exit the rental market.
The bill is currently in its first reading, with a second reading scheduled for late June, when the details will be discussed in parliament and eventually voted on.
Nicole & Company Leasing Manager James Gwynn said:
“Our message to landlords across the industry at this point is essentially: don’t worry.
“There are still great benefits to renting out property, and when changes like this happen, they will establish a new normal. It just means it’s a good time to reach out to an agency.”
As it stands, the bill provides for:
- Repeal of Article 21 “Negligible Eviction”
- Transition to fixed-term tenants and abolishment of guaranteed short-term tenancy
- Strengthening Section 8 rationale – especially against anti-social tenants
- Court Process Reform – Reduce Delays with New Digital Processes
- New Ombudsman and Digital Real Estate Portal
- Additional legal rights for tenants to claim pets on their rental properties – Tenants are expected to have pet insurance or pay for landlord pet damage insurance
- Decent Home Standard applied to private rental sector for the first time
- Prevent landlords and brokers from imposing blanket bans on benefits and tenants with families
- Strengthening the executive powers of parliament
Gwynn added, “Between brokers and landlords alike, in certain areas of the bill, more landlords will be encouraged to do so due to increased regulation and increased complexity when terminating undesirable rental agreements. I am concerned that it will be withdrawn from the field,” he added.
“I don’t entirely agree with the proposal, but ultimately the government will have to add some incentives at some point to keep landlords on the market.
“The government does not currently have an alternative solution to public housing, and if more landlords leave the sector, it will have a negative impact on tenants, which is the opposite of what the government intends. “
But he stressed that the benefits contained in the bill should not be ignored.
“As long as the Article 8 notice enforcement is relatively straightforward and the court application process is not overly complicated legally, landlords can rest easy even if they need to give notice for more obvious reasons,” he said. For example, if you need to sell or relocate.
“The new Ombudsman process should make it easier to resolve disputes.In addition, having a regulatory body that listens to both sides of the debate would help governments get a better picture of the area, which would result in , may lead to more appropriate, sophisticated and balanced legislation for this sector.” In the long run.
“Having ‘decent housing standards’ helps reward landlords who look after their tenants and provide well-run properties. This should also help keep bad guys out of the system.” .”
Nicole & Company already averages more than 30 applicants for each property it’s listing, and rents this year have already risen more than 4% in the last quarter, he said. .
“Landlords need to take a long-term view, which includes a cumulative growth rate of 15.9% in rental value over the five years to 2027, according to JLL Predict figures, on rent alone. It does not include long-term capital gains.”
“The government needs to look at how to incentivize landlords, but we think landlords also need to look at the benefits of staying on the market.”
