Update on the Renters Reform Bill
It took over 4 years from the Government announcing the "end to unfair evictions" to reach the publication of a draft Bill. Since then the Renters Reform Bill, published on 17 May 2023, has made limited progress through Parliament.
The UK Parliamentary tracker shows the Bill as waiting a date for its second reading. The current Parliamentary term finishes today (20 July 2023) so the Bill will not be debated until September at the earliest. The Bill then needs to pass through various stages before receiving Royal Assent and becoming law.
For a reminder of the key proposals see our earlier article here. As there will be a two stage implementation process, with existing tenancies not converting to periodic assured tenancies until at least 12 months after the commencement date of the Bill becoming law, the impact of the changes on existing lettings is still a fair way off. Nonetheless, many residential landlords are weighing up their options now, with some deciding to exit the market.
We will be hosting a webinar to discuss the Renters Reform Bill on the afternoon of 12 September 2023. If you would like to register your interest in attending, please do so by using this link.