Foot-dragging on Renters Reform Bill ‘damaging PRS’, says big property firm

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The seemingly endless delays to the Renters Reform Bill are prompting landlords to leave the market due to uncertainty around potential changes, says one property expert.

Despite former Housing Minister Simon Clarke recently assuring Parliament that the Bill would be introduced in the next parliamentary session, in practice this means any time before spring 2024, according to Joanne Millward (pictured), divisional lettings coordinator at property consultancy Fisher German, who believes this is creating anxiety in the sector.

The white paper, A Fairer Rented Private Sector, aims to reform rules around the rental sector and includes a commitment to replace Section 21 evictions, the adoption of a Decent Homes Standard and appointing a new ombudsman – but still has no definite date.

Press ahead

Millward is urging the government to press ahead with putting the Bill through Parliament as she says that although the proposed reforms will not be entirely helpful to landlords, the delay is causing harm.

“The industry is essentially stuck in limbo until we know the details of what will appear in the legislation,” she says.

“While the white paper improves rights for tenants, some of the proposals in it will make becoming a landlord more difficult and will give current landlords more problems to deal with.”

It’s yet another reason for many to sell up, reducing rental stock across the country, adds Millward. “The supply of rental housing is already under strain in the UK, and this delay is only making it worse by discouraging landlords to keep going.”

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