8^th November 2023

What does the King’s speech mean for landlords?

In his inaugural speech to Parliament on 7 November 2023, King Charles III laid out the 21 new laws that Prime Minister Rishi Sunak is looking to pass before the next General Election.

As far as landlords are concerned, the highlights include the Renters (Reform) Bill which is presented again.

The intention is to provide better security of tenure and value for money for tenants, while giving landlords reassurance that they can reclaim their property with or without recourse to Section 21 no-fault evictions. The Bill itself pledges to scrap Section 21, but the measure stays on the table until justice system reforms and more robust grounds for possession are in place.

Mandatory grounds for possession will not only permit landlords to take back a home to sell or to live in but also add new grounds for evicting tenants in as little as a fortnight if they break the tenancy agreement or damage the property.

In addition, the Bill plans to:

• allow tenants to keep pets
• connect councils, landlords and tenants with an online Private Rented Property Portal
• create a Property Ombudsman to manage tenant complaints
• lift blanket bans from landlords on tenants who are either claiming benefits or have children
• give councils more enforcement powers against landlords who break the law
• remove the requirement for C-rated energy performance certificates for private rented homes
• give student landlords tailored mandatory possession grounds

For Andrew Ward, owner of Award Property Management, these are encouraging developments for tenants and landlords alike. ‘Here at Award, we manage properties for a range of landlords, so we understand the importance of security for both parties,’ comments Andrew. ‘We’re encouraged by the new proposals outlined in the King’s speech and we look forward to helping our landlord clients to implement them efficiently when they become law.’

Award Property Management are letting agents in Cambridge. If you would like help or advice with any aspect of your rental property, please get in touch. We’d be happy to help and advise.