Renters' Rights Bill set to shape rental trends in 2025

The Renters' Rights Bill, a highly anticipated piece of legislation, is expected to become law this spring due to its swift progress through Parliament. As a result, the Bill is poised to play a pivotal role in shaping the rental sector's key trends in 2025, according to UK rental services provider Housing Hand.

“Everyone in the rental sector, from private landlords to large corporate operators, will need to adhere to the Renters' Rights Bill once it becomes law,” says James Maguire, Sales and Business Development Director at Housing Hand. “Ensuring compliance with the Bill will be a top priority for all stakeholders in the sector throughout the year.”

The Bill is likely to have a significant impact on landlords of houses in multiple occupation (HMOs) and Build to Rent properties. With the planned abolition of fixed-term tenancies, student landlords, in particular, are concerned about the risk of extended void periods.

Under the new rules, students will be able to leave their accommodation with just two months’ notice at any time. However, landlords may struggle to replace departing tenants until the following year, exacerbating worries about prolonged vacancies. Housing Hand’s data reveals that since July 2022, 2.91% of the tenancies it has guaranteed ended early, despite the presence of fixed terms and limited options for early termination.

Addressing challenges like these will be crucial for accommodation providers aiming to succeed in 2025 while adapting to the Renters' Rights Bill. As the UK’s leading guarantor service, Housing Hand is committed to supporting the sector through this transition.

James adds, “Housing Hand offers a range of services to support the UK rental market, from guarantor solutions to assisting renters in finding accommodation. As the sector evolves alongside the Bill, we are evolving too. We’re working closely with landlords of HMOs, purpose-built student accommodation, and Build to Rent operators to stay ahead of the Bill’s changes. Our mission is to help the rental sector prepare for the new legislation as effectively as possible

Original Source - https://www.propertyreporter.co.uk/