- The Renters’ Rights Act rolls out in May, introducing stricter measures for property repairs, rent increases and evictions
- Failure to comply with Decent Homes Standards could incur fines of up to £40,000 and even prosecution
- Student property expert says the market will become increasingly competitive for landlords
Landlords will soon face stricter measures when it comes to property conditions, price increases and evictions under new laws rolling out next month.
A leading student property expert has said the changes will create an even more competitive student rental market, advising landlords to act now or risk serious consequences including hefty fines and even prosecution.
The Renters’ Rights Act, which is designed to better regulate the rental market, begins to roll out from 1st May. For student landlords holding off on property repairs, Simon Thomson, CEO and Founder of Accommodation for Students (AFS), has warned now is the time to act.
Simon comments: “In our experience, landlords work hard to provide a good quality of housing for students. However, there are a small minority who unfortunately don’t, which has a negative impact on the whole market. Under these new laws, landlords who don’t provide a good quality of living will be held to a much higher standards and face tougher consequences. This we hope will ensure everyone meets the standard that we and other landlords expect.”
The Decent Homes Standard is considered a bare minimum for UK social housing, which will extend to private rentals under the Renters’ Rights Act. To comply, properties must be free from “Category 1 Hazards” i.e. severe mould or fire risks, be in reasonable repair and have relatively modern facilities.
Landlords who fail to comply could be faced with civil penalties from their local authority up to £7,000 for not meeting the standards, or up to £40,000 for not complying with enforcement actions. Tenants can also apply to have their landlords repay any rent during the period of non-compliance, while ongoing or serious breaches can lead to banning orders and even prosecution.
Also included under the new laws are the scrapping of “no fault” evictions, regulation of rent increases and changes to fixed term contracts Simon says while the changes create a fairer rental market, it will make things more competitive for landlords:
“Under changes to fixed term contracts, tenants could decide to up and leave with two months’ notice. This means landlords will need to ensure they are not only on top of property maintenance and repairs but also offering an attractive proposition in terms of price – especially as there will be restrictions in place on rent increases.
“Students’ are increasingly aware of their rights and not afraid to hold their landlords to account. Ultimately, these changes do give students more protection and better flexibility, while holding landlords to a higher standard.
“We expect to see the student rental market adapt over the coming months in ways that will keep things competitive. Those landlords who rest on their laurels now will soon be left behind.”
