Only 16% of landlords say they are “fully prepared” for the implementation of the Renters Rights Bill in the coming weeks – and 7% haven’t even heard of it.
Another 29% says they are aware of it but don’t know what it means for them while 18% have heard of it but know very little. And 32% have a general understanding but still have questions.
These are the results from a survey of 1,001 landlords across England, commissioned by lettings agency Cavendish.
The Bill is due to return to the House of Commons and House of Lords next week (September 8) for final amendments and approval, after which it will receive Royal Assent which turns it into law.
David Adams, managing director of Cavendish and author of The Landlord’s Playbook, says: “There is a huge amount at stake for landlords with the imminent introduction of the Renters Rights Bill.
“The changes being introduced are some of the biggest impacting landlords for decades and the potential cost of falling foul of the new legislation in terms of reputation and financial penalties is enormous.
“While we have been supporting landlords directly and via regular webinars for some time, it is clear from our survey that the vast majority of landlords across England do not feel fully prepared for what is set to become law in a matter of weeks.
“Being fully prepared is the only way forward if landlords are serious about protecting and growing their rental portfolios.”
This article is taken from Landlord Today