With all the legal changes happening in the private rental sector, we can understand that it is overwhelming to keep up as a Landlord or even a letting agent!
The Renters Rights Bill comes into force in the next few months and as a Landlord or as an Agent, you want to prepare yourself to avoid shelling out thousands of pounds in financial penalties and legal costs!
There are so many changes under the Bill, some include:
- The abolishment of section 21 notice –“no fault eviction”
- Minimum rental period of 12months
- You can no longer get away with using old AST (tenancy agreements)
- Tenants can apply for Rent Repayment for 2 years of their rent
- Councils can impose fines of £7000 to £40,000 without a Court hearing
- Councils can impose improvement notice for category 1 hazards
- PRS Landlords database
- Landlords Ombudsman
- Breach of Possession Rules
As a Landlord you need to understand your legal obligations, even if you use a letting agent and if you’re a letting agent, you still need to understand the rules, so you don’t put your Landlords at risk!.
If you are a Landlord or a Letting agent and want to discuss any legal issues you or your Landlord client has, call us on 0207 046 1731 or email us at: info@reenanderson.com