Landlords across London are being warned to prepare for what experts are calling 'the biggest reform in almost 40 years' as the Renters' Rights Act comes into force from May. The sweeping changes will see all tenancies transition to rolling monthly agreements, with 'no-fault' evictions banned entirely.
Key Changes for Tenants
Tenants will be able to challenge rent increases at tribunal, and no-fault evictions will be banned. Landlords will only be able to evict tenants through Section 8 notices with appropriate grounds, such as serious rent arrears, the landlord selling the property, or the landlord wanting to move in themselves.
Other key changes include restrictions on collecting more than one month's rent in advance and limiting rent increases to once per year with two months' notice. Tenants will gain the right to challenge rent increases at tribunal, reports the Express.
New Rules for Landlords
Property owners will face new rules on tenant selection, including a ban on refusing applicants based on children or benefit status. Landlords must respond to pet requests within 28 days with reasonable grounds if refusing. Current tenants do not need to sign a new contract to get these new protections; they will automatically apply to all tenancies.
Expert Warnings
Suzanne Smith, founder of The Independent Landlord, said: 'The Renters' Rights Act is the biggest reform in almost 40 years, but it's manageable for landlords who take time to understand the new rules.' Michelle Lawson from Lawson Financial warned landlords face a 'massive shock' if unprepared, with 'huge fines' waiting for those who don't comply.
Read more about the new rules: Renters Rights Bill - when it takes effect and what it means for renters.
