The Housing Minister wants to get the Renters’ Rights Bill on the statute book asap despite outstanding concerns.
MPs have begun considering amendments to the rental reforms ahead of it receiving Royal Assent in the coming weeks.
Posting on social media, Housing Minister Matthew Pennycook, said: “It will level decisively the playing field between landlord and tenant and transform the experience of private renting.
“England’s 11m private renters need it to receive Royal Assent as quickly as possible.”
The controversial reforms returned to the House of Commons yesterday to consider amendments ahead of the legislation receiving Royal Assent.
But Catherine Williams, real estate partner at international law firm Addleshaw Goddard, has warned that the Bill overlooks the important distinction between individual private landlords and large-scale institutional operators.
She said: “The Bill’s changes to how rent reviews are implemented and challenged introduces uncertainty for institutional landlords, who rely on predictable annual rent increases to support long-term investment models.
“By limiting rent reviews and enabling tenant challenges which could drag on for months—many of which may be speculative or lack merit—the legislation disrupts financial planning for professionally managed rental portfolios and risks undermining the viability of much needed new BTR schemes during a housing crisis.”
“These institutional landlords—such as pension funds, insurers and professional developers—are subject to rigorous compliance, sustainability and governance standards. They deliver well-managed, high-quality rental housing and play a vital role in addressing housing demand. Treating them the same as so-called cowboy landlords risks undermining investor confidence and penalising those contributing positively to the sector.”
This article is taken from Landlord Today