In the Queen’s Speech, Government revealed plans for what it called “A revolutionary new deal for renters to restore fairness, honesty and transparency to the heart of the housing market” with the Renter’s Reform Bill.
Key measures announced for the Private Rented Sector include:
- A new lifetime deposit scheme, which will see a deposit move with renters from property to property – giving tenants more control over their lives and keeping more of their cash in their pocket.
- Confirmation of plans to abolish ‘no-fault’ evictions – preventing landlords from evicting tenants at short notice and without good reason.
- New powers to strengthen the rights of landlords to gain possession of their property through the courts when they have a clearly valid reason to do so, in order to create a fair market where good and responsible landlords flourish.
- Professionalise letting agents, to the benefit of tenants and landlords.
- Government has also committed to giving access to information on the database of rogue landlords and property agents to tenants and has consulted on widening the scope for entries on the database.
Responding to the plans, Isobel Thomson, safeagent Chief Executive, said: “We support these aspirations for a fairer PRS and look forward to continuing to engage with Government to ensure the measures work for all – tenants, landlords and agents.”