Update on Renters (Reform) Bill: Status and Future Prospects
As highlighted in our previous update, the Renters (Reform) Bill did not progress among the draft legislation slated for approval before the Parliamentary session ended. Consequently, none of the proposed changes from this Bill will be enacted into law. The shelving of the Renters (Reform) Bill means that “no-fault” evictions, fixed-term tenancies, and contractual rent review clauses remain unchanged for now. However, the situation could evolve with the next parliamentary term.
What’s next?
As previously noted, many anticipated legal changes depend on yet-to-be-published regulations. While we have a general idea of their intended effects, the specific details will only be clear once this secondary legislation is made available. Additionally, the upcoming General Election on July 4, 2024, might result in a Labour government. Labour has consistently criticised Conservative housing policies and championed renters’ rights. They supported the Renters (Reform) Bill in the last parliament and are expected to advocate for the abolition of “no-fault” evictions and other tenant protections included in the Bill. There is also potential for more extensive reforms. For instance, given the ‘sub-optimal’ Leasehold and Freehold Reform Act 2024, there is increasing support for expanding commonhold tenure—a stance backed by both Conservative and Labour members.
Regardless of the election outcome, the incoming government will have a substantial agenda. We will need to wait until July to assess the new parliamentary session’s impact on the residential sector.
You can rely on Possession Proceedings to keep you informed as laws change, with our services continuously updated to reflect the latest regulations.
If you have further questions or need any advice, reach out to us today.
