By For UK landlords, the Renters’ Rights Bill is a hot topic, but its slow, evolving progress in Parliament has left many landlords feeling overwhelmed. This state of legislative limbo has left many struggling to prepare for changes and timelines that aren’t yet firmly defined. Ongoing discussions and negative headlines have made preparing for the upcoming reforms feel like aiming at a moving target.
But what if there’s a more practical and pragmatic approach?
UK Property News brought to you by the National Landlord Investment Show recently caught up with Suzanne Smith, founder of The Independent Landlord, and Peter Littlewood, CEO of iHouse, to discuss how landlords can start taking practical steps to prepare for the upcoming Renters Rights Bill.
Their insights offer a refreshing perspective, emphasising preparation, professionalism, and a proactive mindset rather than “doom scrolling” the latest headlines about the Bill.
Ready to get practical advice on how landlords and letting agents can best adapt to these changes? Register to attend an unmissable Renters’ Rights Bill: Brace for Impact: Plan, Prepare & Comply for the Renters’ Rights Bill at the National Landlord Investment Show on 9th July at Old Billingsgate, London. The housing sector is on the brink of major change, but what will it mean in practice for UK landlords? Hosted by Ian Collins, the panel speakers include Suzanne Smith, The Independent Landlord, David Smith, Economics Editor of the Sunday Times, with more to be announced. Register for your free show ticket now.
Want an update before the show, get the latest update by watching the full interview on UK Property News for expert advice with a full breakdown of the episode below…
It’s not Armageddon: A shift in mindset
Despite the perceived hurdles, both experts on UK Proeprty News advocate for a pragmatic and even positive outlook. The Renters’ Rights Bill, they argue, isn’t just a change; it demands a new level of professionalism, cementing operating as a landlord as a service-based business and marking the end of the amateur landlord era.
“The days of the amateur landlord are gone. Completely gone,” states Peter. “Even if you’ve got one property, it’s a very part-time job. [It] is still a full-time responsibility.”
For anyone operating a Buy-to-Let portfolio, adapting your approach to lettings is crucial. As Suzanne further explains, “We are a service business. We provide homes and I think that’s what we have to do. It’s a new mindset… to realise that we’re in the service business and focus on happy tenants.”
While the Renters’ Rights Bill presents new challenges, landlords should remember their resilience in navigating past changes. As Suzanne explains, for most landlords with single-family homes and long-term tenants, the upcoming adjustments primarily involve “more admin and it’s going to be a bit trickier to put up the rent and a few other things.”
Suzanne believes that “on a day-to-day basis, it’s not going to be a huge difference once we get there and once we’ve gone through the transition.”
Indeed, the fundamental economics of being a landlord remain largely unchanged; Suzanne highlights that previous tax shifts, like mortgage tax relief and upcoming EPC regulations, have had a more significant financial impact.
7 practical steps for proactive landlords
So, with the timeframe and details of the Renters’ Rights Bill still up in the air, what tangible actions should pragmatic landlords be taking now?
Here are some of the top tips from Suzanne and Peter from UK Property News Episode 6: Latest Update on the UK Renters’ Rights Bill.
- Re-evaluate fixed-term tenancies: If you have tenants in fixed-term tenancies, Suzanne advises against renewing them when they run out.
- Adjust payment intervals: If tenants currently pay at intervals greater than monthly, consider discussing and reducing it to a monthly arrangement.
- Prioritise property standards: Proactively inspect properties for any damp or mould issues and address them promptly. Focusing on high standards and happy tenants is key to long-term success.
- Rigorous referencing is non-negotiable: Peter stresses the importance of stringent tenant referencing to protect your investment income.
- Formalise agreements: Even for casual arrangements, a written offer is now legally required. This isn’t just about a contract; it’s about clear communication of terms.
- Protect deposits: Continue to adhere strictly to deposit protection schemes.
- Stay informed from reliable sources: Avoid “doom scrolling” on social media. Instead, seek out reliable content from reputable organisations like the National Landlord Investment Show’s free members hub, events like the live show on 9th July in Old Billingsgate, London or landlord associations.
Want to find out more? Watch episode 6 on YouTube.
When will the Renters’ Rights Bill happen?
The exact timeline for the Renters’ Rights Bill is unconfirmed. While the Bill is progressing, Peter doesn’t expect it to get Royal Assent before the parliamentary break on July 22nd, possibly October.
Even once it becomes law, the full enactment with a clear timetable for all its provisions could take “another six months, a year, or more.” However, this doesn’t mean landlords can rest on their laurels. Preparation is an ongoing process.
The Renters’ Rights Bill represents a significant shift, but it’s not an impossible challenge. By embracing professionalism, prioritising tenant relationships, and proactively preparing, pragmatic landlords can navigate these changes and continue to thrive in the evolving UK property market.
Want to cut through the noise and get direct, practical advice from the experts on the Renters’ Rights Bill? Register for your free ticket to the National Landlord Investment Show on 9th July in Old Billingsgate, London.
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