Renters Rights Bill
As some may be aware there is currently a bill going through the House of Lords, https://hansard.parliament.uk/Lords/2016-06-10/debates/16061029000340/Renters%E2%80%99RightsBill(HL) which looks to reform the way in which letting Agents, on behalf of the Landlord, charge and manage the process of renting out a property. This bill has gone through 2 readings and it’s currently with the committee.
In brief this bill is;
- Seeking to give access to Tenants the current database of rogue landlord and letting agents.
- A letting agent would not charge tenants or potential tenants
- a registration fee,
- an administration fee,
- an inventory check fee,
- a reference check fee,
- a tenancy extension or renewal fee, or
- an exit fee.”
- Mandatory 5 yearly electrical safety checks
- Rogue Landlords would be unable to attain a HMO licence
Running beside this bill is a petition which currently has 254,046 signatures seeking to ban letting agent fees. https://www.change.org/p/brandon-lewis-make-renting-fair-in-england
As a current tenant, I understand the financial impact these charges had on me personally when I joined the renting fraternity. I have also recently joined the Raylets lettings team and can see the other side with their financial implications, regarding the work, time, resources and costs incurred by the Raylets to gain tenants for properties.
I am going to follow this bill through the House of Lords, potentially into The House of Commons closely as you can appreciate, as it has both a professional and personal interest to me, I will keep you updated as to developments.
I hope you to join me with comments, discussions and any insights you may have.