A trade body representing Build To Rent operators claims that the sector “already accommodates the Bill’s proposals” in terms of tenants’ rights.
The Association for Rental Living says it welcomes the passing of the amended Renters Reform Bill in the House of Commons, and its progress to the Lords.
It adds: “It is notable that from a tenant’s rights perspective, the professionally managed BTR sector largely already accommodates the Bill’s proposals, including fairness, which are designed to improve the quality of homes and the renting experience.
“For over a decade, the BTR sector has attracted the highest calibre institutional capital from across the world having proved that it creates, maintains, and professionally manages good quality homes, in the long term, for the benefit of customers, local communities and investors.
“Almost 102,000 new homes have been completed, with a further 163,731 in the planning and delivery pipeline. The new BTR Code of Practice, conceived and launched for road-testing last month by the ARL, is further testament to the sector’s commitment.”
However, it has at least one additional hope from the Bill – it says it’s essential to have an effective six month assured tenancy as tabled in the amendments at yesterday’s Third Reading.
“Without this we would likely see an exodus in investment in rental accommodation which would exacerbate the already evident housing crisis” it says, adding: “The ARL does support the requirement for reform of the courts before the abolition of Section 21 and welcomes the undertaking to review licensing regimes as these are impacting the viability and delivery of much needed additional homes.
“Almost a year on from the introduction of the Renters Reform Bill into Parliament and five years since Theresa May’s government first announced the bill in April 2019, the ARL calls for swift passage of the Bill through the House of Lords to ensure clarity and confidence for all in the future of the private rented sector.”
