Landlords express fears that new rental legislation could lead to higher rents and property sales. The Renters’ Rights Act came into force across England and Wales on Friday, aiming to enhance tenant rights.
The act includes significant measures such as banning no-fault evictions. Landlords must now provide two months’ notice before evicting tenants. They can also increase rent only once a year, limited to the property’s open market rent.
Industry representatives voice concerns about the potential financial impact of these changes. Some landlords worry about how the new law could affect their ability to manage properties profitably. They fear these regulations might lead to higher rents as landlords adjust to maintain income.
The government hopes the act will promote rental stability and housing security for tenants. Officials believe it will redress the balance between tenants and landlords, enhancing tenant rights overall.
Some people looking to rent properties in south-west England have welcomed the act, saying it could be a “game-changer” for tenants. Yet, landlords remain apprehensive about the long-term consequences.
Observers note that concerns over unintended consequences of the new legislation are not fully detailed. The Renters’ Rights Act is considered one of the biggest changes to renting laws in over 30 years.
