Many agents relieved Renters Reform Bill dropped

The agents’ trade body says many in the industry will be pleased that the Renters Reform Bill has bitten the dust because of the General Election.

The Bill failed to progress through the ‘wash up’ at the end of last week - the process by which some legislation is ‘waved through’ rapidly between the time the election is called and the dissolution of Parliament.

Inevitably some measures fail to make it, and that was the fate of the Renters Reform Bill.

Timothy Douglas, Head of Policy and Campaigns at Propertymark, comments: “The legislation was introduced very late on and whilst attempting to please everyone, it failed to please anyone.

“Many agents will be relieved that the current government’s plans to meddle with fixed term tenancies and reforming eviction grounds with little realisation of the unintended consequences will no longer pass, but this is soon outweighed by a sense of uncertainty and apprehension as to what the next government will do.

“Propertymark remain committed to engaging with politicians from all sides and will continue to call for agent regulation, tax reform, more resources for the courts and enforcement authorities, as well as ensuring renting property retains flexible tenancy options that have made the private rented sector the success it is today.”

However, the trade body was pleased that one Bill which did make it to the statute book was the Leasehold and Freehold Reform Bill.

Douglas explains: “We know from the data that we have discovered as part of our campaigning on the issue that many leaseholders regret buying a leasehold property plus complex leases and escalating ground rents can make leasehold property more difficult to sell.

“The proposals are a step in the right direction and will bring in more protections for consumers. However, to strengthen the measures further we have long said that those buying, selling and renting out leasehold properties must be suitably qualified and regulated, ground rents must be reduced to a peppercorn and issues around event fees must be tackled.

“It is imperative that the current government don’t miss the opportunity or consumers and the sector will be left waiting once again for further reforms, with what will feel like unfinished business to many.”