{"id":26635,"date":"2024-05-10T13:57:55","date_gmt":"2024-05-10T12:57:55","guid":{"rendered":"https:\/\/smh.group\/?p=26635"},"modified":"2024-05-10T13:59:38","modified_gmt":"2024-05-10T12:59:38","slug":"update-for-landlords-on-renters-reform-bill","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/update-for-landlords-on-renters-reform-bill\/","title":{"rendered":"Update for landlords on Renters Reform Bill"},"content":{"rendered":"<p><strong>The Renters Reform Bill has successfully passed through the House of Commons, incorporating significant concessions that benefit landlords. Additionally, landlords owning leasehold properties could gain from a new annual limit of \u00a3250 on ground rents.<\/strong><\/p>\n<h3><strong>Concessions: what\u2019s next?<\/strong><\/h3>\n<p>The Renters Reform Bill has taken nearly a year to clear its first hurdle. Next, it must now proceed through the House of Lords. There is a good chance it will become law, although any subsequent changes are likely to benefit tenants rather than landlords if Labour wins the next election.<\/p>\n<p>The main concessions from the original Bill are:<\/p>\n<ul>\n<li>The abolition of Section 21 notices will be delayed for existing tenancies (those which commenced before the Bill comes into force) until the county court system for possession orders is deemed to be functioning properly. Such reforms might take years to complete. A section 21 notice can currently be used by landlords to take possession of a property without providing a reason.<\/li>\n<li>Despite fixed term tenancies being abolished, a tenant will now not be able to end a tenancy during the first six months. This is effectively the same as the existing system.<\/li>\n<li>The introduction of a tenant\u2019s right to keep a pet will also be linked to improvements in the county court system. In future, a landlord will have to accept a request to keep a pet unless there is a reasonable reason for not doing so. Landlords will, however, be able to require pet insurance.<\/li>\n<\/ul>\n<h3><strong>Leasehold property<\/strong><\/h3>\n<p>While plans to abolish leasehold properties has been scaled back, it looks like a compromise will see ground rents capped at \u00a3250 annually for the next 20 years. However, this decision has not yet been formally announced. This will be good news for any landlords who own leasehold flats or apartments which have an escalating ground rent.<\/p>\n<p>For more information,\u00a0<a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/contact\/\">contact us<\/a>\u00a0on\u00a0<strong>0114 266 4432<\/strong>\u00a0or email\u00a0<a href=\"mailto:info@smh.group\"><strong>info@smh.group.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Renters Reform Bill has successfully passed through the House of Commons, incorporating significant concessions that benefit landlords. Additionally, landlords owning leasehold properties could gain from a new annual limit of \u00a3250 on ground rents.<\/p>\n","protected":false},"author":4,"featured_media":26626,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[3],"tags":[1294],"class_list":["post-26635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smh-accounting-business-advisory","tag-renters-reform-bill"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Update for landlords on Renters Reform Bill - SMH Group<\/title>\n<meta name=\"description\" content=\"The Renters Reform Bill has successfully passed through the House of Commons, incorporating significant concessions that benefit landlords.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Update for landlords on Renters Reform Bill - 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