Compliance is the Key!

The Renters’ Rights Bill will be bringing many changes, but never has it been more important for landlords to ensure they are as compliant as ever.  We will be reporting on compliance issues over the forthcoming weeks to help landlords keep abreast of their responsibilities and how to ensure they wont fall victim to hefty fines.

Having attended a recent training session with Landlord Law it was clear that the local councils, equipped with their new powers, will be able to fine resistant landlords where they are found falling short of the compliance procedures and therefore may be ramping up their inspections.  Of course, we know most councils are experiencing financial shortfalls and do need to find funds to remain solvent.  However as the Bill also places the legal duty on the local authorities to enforce the regulations in their area, we don’t want our landlords to be the ones to foot that bill. 

So, if self-managing landlords aren’t members of landlord associations at present, now is the time to join!

Some key pointers to remember:

• Choose your tenants wisely – taking extra care and measure in this regard will give your tenancies the best possible start

• If landlords choose to use a letting agent, ensure they are keeping you up to date and receive regular training themselves to provide you with confidence, particularly as the responsibility ultimately comes down to the landlord

• If landlords self-manage, keep in touch with the legislation updates via your landlord association who will be helping you to stay compliant

• Regularly inspect your property - “what is regular?” is a question we hear often and in answer, a suggestion of once a quarter would be fair and reasonable.

  
  

We are still in the phase of waiting for Royal Assent for the Bill but this is expected before the summer recess in July.  The Act itself is expected to come into effect later in the year or even into early 2026.  There will be a period of time therefore, ie the second half of this year where things will need to happen. 

The Government will need to:

• Produce further guidance to ensure landlords/letting agents etc know what is expected

• Update court forms

• Draft regulations including commencement regulations, transition regulations and terms for the new tenancy agreements

• There is also talk of a government run campaign needed to raise awareness, although no one is very clear on how that will look or the impact and effectiveness of this

We are pleased to be in excellent partnership with Fosters Solicitors who ensure we are compliant with documentation that we share with our membership.  The Tenancy Agreements will need to be reviewed of course and we will be working with Fosters closely when the appropriate time arrives so these can be written in accordance with the Act requirements.

We will be discussing various aspects of the compliance requirements over forthcoming Blogs which will include Tenancy Agreements and the loss of the fixed terms, rent requirements, ending tenancies, property inspections, the PRS database and Landlord Redress Scheme etc.