By Another part of the new bill introduces a requirement for all landlords to join a landlord redress scheme. This is Part 2 chapter 2 of the bill.
Landlords will need to be members before marketing a property and remain members after letting for a period that has not yet been set. This means that the redress scheme will be able to deal with potential, actual and past tenants.
Rent
One area where the Renters’ Rights Bill will make changes is around the payment of rent.
Firstly, you will not be allowed to have rental periods of longer than 28 days, or monthly. Therefore, quarterly or six-monthly rents will not be allowed.
It also says that the periods of the tenancy have to match the periods for which rent is payable, this is in section 1:
(1) Terms of an assured tenancy are of no effect so far as they provide for a tenancy to be a fixed term tenancy, or
It really highlights the importance of quality tenant selection. Guarantors are looking less reliable, it appears like you cannot take rent in advance, rent arrears have to be higher before starting possession and the notice is longer.
Adding all these together requires you to be more careful about tenant selection.
🔹Get equipped with the knowledge to navigate the renters reform bill.
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