More than two in five landlords are not aware of the proposed Renters Reform Bill, a new study¹ has claimed, despite the impact it will have on their portfolios. But should landlords be worried about the renters reform bill?

What could change?

The proposed legislation of the renters reform bill, which was set to be voted on before May 2023, includes many significant elements. If passed in full, the renters reform act will:

  • Scrap section 21 ‘no fault’ evictions
  • Create a register of landlords
  • Introduce a private rented ombudsman to help enforce renters’ rights
  • Make it illegal for landlords and agents to refuse to rent properties to people who receive benefits
  • Give local authorities more power to enforce and protect renters’ rights.

What do landlords think?

When asked what landlords thought of the renters reform bill, a survey found that 47.55% of landlords are ‘strongly concerned’ or ‘concerned’ about not being able to refuse to rent properties to people who receive benefits.

Similarly, landlords are worried about the renters reform bill due to changes to section 21 evictions (45.45%), private rented ombudsman (43.86%), property registration (42.65%) and the right to request a pet in their house (41.45%).

Increased pressure to remain compliant with this act will add to the pressures placed on landlords and could lead to some selling up, the study suggests.

Get in touch

Clifford Osborne are independent mortgage advisers based in Eastbourne, East Sussex. We serve clients in Tunbridge Wells, Brighton, Lewes, Uckfield, Hastings, Bexhill, Seaford, Newhaven and further afield.

Please contact our friendly team for more information or to book a free initial review.

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As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments. Think carefully before securing other debts against your home.

¹Finbri, 2023

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