The latest news about the Renters Reform Bill could mean more restrictions for property investors. Last 5 September 2022, the Department for Levelling Up, Housing and Communities (DLUHC) committee started its evidence session about the bill.
Committee Inquiry Is Also Underway To Determine If Bill Is Helpful Or Only Adds More Restrictions For Property Investors
The committee also launched its inquiry into the reforms set out in the white paper. Titled, "A Fairer Private Rented Sector", this paper was published last 16 June. The white paper was presented to Parliament by the Secretary of State for Levelling Up, Housing and Communities and Minister for Intergovernmental Relations, last 2 February.
The DLUHC committee said that it would examine the government’s plans (as stated in the white paper) including:
- Introducing a Decent Homes Standard;
- Replacing Section 21 with a simpler tenancy structure;
- Removing no-fault evictions; and
- Introducing a digital property portal for landlords and property investors.
A Measure To Weed Out Non-Compliant Landlords, Not More Restrictions
The government added that the reforms set out in the white paper would give local authorities effective tools to tackle non-compliant, even criminal, landlords. While the intent seems to be considerate to both tenants and landlords, event the Public Accounts Committee seems to think that it will set out more restrictions for property investors.
The Public Accounts Committee Disagrees Over Selective Licensing
The Parliament's Public Accounts Committee published its report last 13 April. In its report, the committee questions the validity of selective licensing. It questions the basis of the government for rejecting bids. The committee urged the government to realise that the reforms may not help city councils manage the private rented sector properly.
Furthermore, the DLUHC cannot seem to anticipate the impact the reforms will have. From the committee's point of view, the bill won't be able to help with the lack of housing stock and the actual effect of the bill’s implementation.
One Great Property Idea
How Property Investors with Little Time Can Invest in New Build and Off Plan Property using a Regeneration Strategy and Where Exactly to Invest in 2022.
THIS WEDNESDAY @
1230pm London GMT
1230pm GMT London
Starting An Open Consultation To Hear The Side Of Landlords And Property Investors
The DLUHC committee also launched an open consultation. This consultation opened last 2 September and will run throught to 14 October. Landlords and property investors like you, as well as letting agents, estate agent organisations, and businesses in the private rented sector are encouraged to share their feedback and views through the DLUHC committee's online survey.
If you want to know more about landlords, lettings, and selective licensing, call our team today on 02079236100 or book a chat. We can help you learn more about the rules and legislation that govern our industry, and how this bill can push more restrictions for property investors.