Understanding the New Renters’ Rights Bill and How HomeNow Can Help You Get Ahead
The housing landscape in England is about to undergo significant changes with the introduction of the new Renters’ Rights Bill, which could be in effect as early as next spring. The Government has outlined several key reforms aimed at increasing tenant security and improving housing standards.
Key Changes from the Renters’ Rights Bill
The bill introduces several important changes:
- End of Section 21: So-called ‘no fault evictions’ will be abolished, providing more security for tenants.
- Abolition of Fixed-Term Tenancies: All tenancies will move to periodic agreements, with tenants able to give two months’ notice to move out at any time.
- Decent Homes Standard: Landlords must now meet minimum standards, with fines of up to £7,000 for non-compliance.
- Stronger Tenant Rights: Including the ability to challenge rent increases, a ban on rental bidding wars, and a legal right to request a pet in the home.
- Greater Accountability: With the establishment of a new rental ombudsman and the creation of a comprehensive private rental database this mark a significant leap forward in ensuring greater accountability within the rental market. The ombudsman will provide tenants and landlords with a dedicated resource for resolving disputes and addressing grievances, fostering a fairer and more transparent rental process. Meanwhile, the private rental database will offer valuable insights and historical information on rental properties, empowering both renters and property owners with the knowledge needed to make informed decisions. These initiatives represent a promising shift towards a more equitable and accountable rental system, ultimately enhancing trust and stability in the housing sector.
These changes are part of the Government’s broader plan to “level the playing field” between tenants and landlords, offering more protection to renters while maintaining standards in the private rented sector. The goal is to ensure fairer, safer, and more stable living conditions for everyone.
How HomeNow Stands Out
At HomeNow, we’re already offering solutions that go beyond the basic tenant-landlord dynamic. Our Rent to Buy scheme not only provides long-term rental stability with five-year fixed rental agreements (no rent hikes), but also gives our residents the opportunity to earn equity in their home over time.
While the Renters’ Rights Bill aims to create fairness in the rental market, HomeNow takes it one step further:
- No Rental Increases: With us, there are no surprises. Your rent stays the same for five years.
- The Opportunity to Own: After five years, you earn a third of any house price increase, which you can use as a deposit to buy your home.
- Full Control Over Your Space: Decorate, maintain, and renovate your property as if it were your own.
This combination of renting with the security of ownership is what makes HomeNow a standout option in a changing rental market. As new laws come into play, we offer a forward-thinking solution that allows residents to plan for their future while enjoying the benefits of stable, affordable housing.
Stay Informed
As the Renters’ Rights Bill progresses, we’ll continue to keep you updated on what it means for tenants and landlords alike. In the meantime, if you’re interested in learning more about how HomeNow can help you secure a home and build equity, book your 15-minute consultation today!
Let’s make your dream of homeownership a reality, without the struggle of saving for a deposit while paying rent.