As part of the UK government's latest white paper, The Renters Reform Bill was recently announced with a commitment to a fairer private rented sector. It is said to be the "biggest shake-up of the rented sector for 30 years."
They needed to include a thorough and all-embracing approach to reset relationships between lessors and tenants. Following the June 2022 announcement, guaranteed rent schemes seem more alluring than ever, as the rules and relationships between tenants and landlords become more complicated and demanding.
New Rules for Landlords in the Private Rent Sector
Proprietors should consider the following points when updating their long-term, residential tenancy agreements:
Section 21 Evictions
Landlords will be banned from evicting tenants on short notice, or without giving a proper reason. The 'no fault' Section 21 ban will assist tenants in challenging poor landlord practices and provide security for those types of tenancies.
Single Government-Approved Ombudsman
With a designated private renters' Ombudsman, disputes between landlords and tenants will be quickly resolved, out of court and at minimum costs.
"Blanket Bans" Outlawed
Blanket Bans will be prohibited on the most vulnerable people, including families with children, or people receiving benefits.
Tenants' Will Have Rights To Keep Pets
Consent for pets will now be the default orientation in the private rented sector (PRS), landlords will, in turn, have to object in writing, within 28 days, and provide a good reason for the objection.
End of Rent Review Clauses
Arbitrary rent review clauses will be a thing of the past. This will be implemented to safeguard tenants from being locked into automatic, unfair rent changes. Tenants who pay regularly can leave low-quality housing and cannot be held liable for rent.
New Property Portal As Single 'Front Door'
A central system will be put in place, which will allow both tenant and landlord access to information about the property and each other. Tenants will be able to retrieve information about, and rate landlords as a process of legitimacy and transparency.
These major changes are imminent, fixed term housing tenures will require expert property management to insure peace of mind for private landlords.
No part of London will be exempt from these rules, new landlords find it beneficial to make use of guaranteed rent schemes offered by estate agencies, because of the experience and expertise they offer.
Agents such as Aston Pearl Real Estate, cover South London and areas such as Purley in Croydon. Our services will become the preferred solution out of necessity, acting as a fair and efficient conduit for management and mediation.
Aston Pearl Real Estate offers a guaranteed rental agreement to landlords. This means, that whether their properties are occupied, or not the property owner will still receive their monthly rental. This dramatically decreases the risk that the landlord will have to carry. Ensuring both parties receive fair rental while relieving the management burdens from landowners.
London & Surrey Landlords
Let us take the headache of rentals away from you. We will guarantee you a rental income from day one, regardless of tenants or not. No voids - just regular monthly rental income into your bank account and no commission fees.