If you have a property you want to let out, you may be wondering what sort of rules and regulations you have to abide by, not just now but in the near future as the government plans various pieces of new regulation.
Using letting agents can be a particularly valuable exercise, not only because we can do so much of the work for you, but we are familiar with all the latest legislation concerning the private rented sector, as well as what is coming down the line.
Much of what has been promised recently has been proposed by the newly-elected Labour government, but plenty of new rules came into place under its predecessor, as well as the previous Labour government.
Among the new plans that have been announced is a pledge by energy secretary Ed Miliband at the Labour Party conference to require landlords to improve the energy performance of rental homes, so that each one meets an energy performance certificate rating of C or higher by 2030.
This prompted policy director of the National Residential Landlords Association Chris Norris to state that the body agrees on the need to improve energy efficiency, but warned that the private rental sector includes “some of the oldest, and hardest to improve” homes, which could make this a significant challenge in some cases.
“The sector needs a clear trajectory setting out what will be expected of it and by when. This plan must also ensure sufficient numbers of tradespeople are in place to undertake the work that will be required,” he added.
All that may be a lot to wrestle with, although the plan has only just been announced and much consultation and amendment could be in store before the final shape of the legislation is set in stone (or imprinted on the statute book). But, in any case, it will not be in place until 2030, so there is plenty of time to prepare.
Another thing the sector will have to prepare for is the Renters Rights Bill. This was listed in the Labour manifesto and the King’s Speech after the election.
The most highly-publicised element of that was the abolition of section 21 ‘no fault’ evictions, a plan that was also included in the previous Tory government’s Renters’ Reform bill that lapsed when the general election was called. Other elements include the right to a pet (also in the previous bill), new anti-discrimination laws in lettings and an ombudsman.
At the same time, the new bill may have less emphasis on helping landlords repossess properties from badly-behaved tenants – such as those not paying the rent or indulging in anti-social behaviour – than the previous bill.
It may be that the Conservatives in Parliament will try to make amendments to the Renters Rights bill in this area, although it could be part of the ombudsman’s role.
What these developments show is that the rental sector will continue to change in nature. There has been some debate about whether this will prompt some to sell up, in which case rental supply will fall, although this will be balanced by many who rent now snapping up homes that become available, as increased supply would curb price inflation.
Whatever happens, using a letting agent means you will always have someone to steer you through everything that you need to know and do.
