LNB News 25/11/2024
Document Information
Issue Date: 25 November 2024
Published Date: 25 November 2024
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
The Ministry of Housing, Communities and Local Government (MHCLG) has published an impact assessment for the Renters’ Rights Bill, evaluating the impact of its proposed measures on businesses and broader society. Key reforms include abolishing section 21 'no fault' evictions, introducing a new Private Rented Sector (PRS) Database and Ombudsman, and extending the Decent Homes Standard and Awaab’s Law to the PRS. The assessment estimates an average discounted annual cost of £22 per rented property for landlords, representing 0.2% of the mean annual rents in England. However, these costs are expected to be offset by benefits such as reduced letting agent fees and shorter void periods. Tenants are expected to benefit by £28 per household annually due to increased security of tenure. Non-monetised benefits include improved health, longer-term tenancies, and higher housing quality for tenants, as well as enhanced enforcement powers for local councils. The assessment also acknowledges that some landlords may exit the...
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