By The recent National Landlord Investment Show in London, held at Old Billingsgate, drew thousands of landlords and property professionals, all eager for expert insights. But it was the 10:15 session in Auditorium A, packed to capacity with attendees even standing in the wings, that captured the true mood of the event.
The topic? The Renters’ Rights Bill: Brace for Impact – Plan, Prepare and Comply.
When host Ian Collins polled the audience, only a handful of those hundreds felt prepared for the upcoming changes. During the discussion, the expert panel delivered a clear, urgent message: it’s time to act, not fear, the Renters’ Rights Bill.
So, whether you missed the session or simply want to reinforce your understanding of the Renters’ Rights Bill, we’ve compiled the essential advice from the expert panel in this article.
Don’t miss out on expert advice! A free LIS Membership grants you a front-row seat to the recording of this panel discussion from the National Landlord Investment Show, alongside a library of exclusive content created by leading industry professionals.
Self-Auditing is Essential
One of the most pressing recommendations from the panel was for landlords to begin a ‘self-audit’ right away. This means reviewing your current practices and getting everything in order for the Renters’ Rights Bill, ideally before starting the process of registering themselves and their properties under the new Private Rented Sector Database.
If you have a lettings management service in place, a crucial part of your audit must include due diligence on their preparedness. Do not simply assume they are ready for the Renters’ Rights Bill. Proactively contact them to understand their preparations and the specific steps they are taking to ensure your properties remain compliant. If their response doesn’t fill you with confidence in their ability to provide adequate support, it’s time to explore alternative services.
Alongside starting your self-audit, the panel also highlighted the importance of keeping detailed records. We’re talking about even the small things, including all correspondence with tenants, notes on property upgrades and maintenance, official reports, contracts, and of course, your standard accounting documents.
By keeping detailed records and staying organised, you will have key evidence that you might need down the line.
Invest in Compliance
With the Renters’ Rights Bill bringing in several waves of change, it is more important than ever to seek professional advice and services to ensure all your documentation and contracts are correct and compliant. Suzanne Smith from the Independent Landlord stressed to the audience it’s now more important than ever to “comply, not to lie, and it’s better to lean into the rules and be compliant”.
Susie Crolla from the Guild of Letting and Management delivered clear words of warning: “Don’t rely on ChatGPT for your contracts.” Instead, pay for an expert to draft your critical legal documents to secure your protection. Sacrificing quality now to cut costs could expose you to serious problems in the future.
Allison Thompson, Lettings MD from LRG added that letting agents can plug the gap where landlords won’t know how to navigate changes, particularly when it comes to renewals and moving from a fixed term to periodic tenancy.
Do the Work!
Staying compliant with ever-evolving regulations has become a fundamental requirement for landlords. The panel of experts unanimously stressed that continuous education, including attending industry events and conferences, is a vital strategy to avoid potential fines and ensure full compliance.
Paul Shamplina (Landlord Action/Total Property) even suggested dedicating just half an hour a day to researching reputable websites and news portals.
“The details matter,” Paul stressed. Leveraging your knowledge of the Renters’ Rights Bill to pinpoint the most urgent actions required and to start there. After all, the legislation is inevitable, and embracing change is the only way forward.
If you’re looking for a simple, effective starting point, sign up for your free LIS Membership to gain immediate access to the invaluable Renters’ Rights Reform Hub.
Embracing the Evolution of the Private Rental Sector
The question of landlords leaving the industry was met with a clear “no” from our panel of experts.
They firmly believe in the enduring importance of the Private Rental Sector, emphasising that the Renters’ Rights Bill is designed to address non-compliant, “cowboy” landlords, not the majority committed to providing suitable homes. Eddie Hughes, Former Housing Minister, deeply focused on this point, stating the purpose behind the bill is to “raise the professionalism within the sector for both tenants and landlords”.
David Smith, Economics Editor of the Sunday Times, cited the Bill as a good example of continuity of legislation from Conservative to Labour governments and stressed that Bill is here to stay for the long term and that people need to adjust and that when they do, they will find it will be a “better system”.
While adjusting to the new landscape requires diligence, the overall mood was one of proactive engagement rather than apprehension. The central, unifying message remained clear: it’s time to act, not to fear the Renters’ Rights Bill.
Join the Debate
If you missed out on the London show and are interested in the ongoing discussions around the progress and development of the Renters’ Rights Bill, there is still time to register for your free ticket for the upcoming National Landlord Investment Shows, including Bristol, Manchester and one more event in London.
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