Landlords silenced as the Renters’ Rights Bill runs out of steam

Well, that’s that then. No glorious resistance in the House of Lords, as the Renters’ Rights Bill limps back to the Commons and then Royal Assent.

No real defence of the PRS to help politicians understand what they’ve got wrong.

And they’ve got a lot wrong, as time will tell.

The game of ‘ping pong’ between the Houses ran out of steam like an asthmatic marathon runner who can see the finish line but has nothing else to give.

Reading the debates shows that some peers did understand the PRS, but they got shouted down and ignored.

We call this democracy.

Not only was there no outcry, but the landlord forums were mute as well. Everyone appears to be exhausted and unwilling to fight more.

Tenants won’t be protected

The debates over pet deposits and re-letting restrictions were interesting, but the government wouldn’t be moved.

What began as a bold Labour pledge to shield tenants from rogue evictions and unfair rent rises has morphed into a decree.

For landlords across England, this signals not victory, but a precarious truce.

We are stuck in the rental trenches, with an air of unease about what happens next.

PRS faces instability

Though there’s still nothing being published about how this Bill really impacts tenants and the inevitable instability that will come.

Smaller landlords will sell and not invest.

That’s tenants losing out twice there.

The government insists that the reforms won’t destabilise the sector but wait and see what happens to a landlord who must wait for a full year before re-renting, or face penalties.

A landlord’s right to choose whether pets are allowed is gone, and there’s no extra cash to cover the inevitable repairs.

Some might say that benefits claimants gaining equal footing in tenant applications is a good thing.

It is if they can find somewhere they can afford.

Don’t get me started on periodic tenancies and the right for a tenant to hand in their notice from day one.

The hassle and cost of recruiting new tenants and the risk of voids will seriously damage supply.

Landlords will leave

It’s going to be an interesting trap that appears in the coming months as landlords reassess whether they want to remain.

I’ve mentioned before that the Bill effectively removes a landlord’s control of their own property which is just nonsense on stilts.

But I hadn’t quite appreciated that a landlord with long-term tenants and rising costs is facing a dilemma.

For many, the numbers won’t add up, and as the risk of making a loss every year grows, they won’t want to let down their tenants.

And here the portrayal of all landlords being heartless will loom large.

That’s because we might have to hand out bad news to decent people who rent our homes.

They’ll be left to find fewer homes at higher rents, and with letting criteria getting tighter, where will they go?

Other RRB problems

Clueless councils bringing in selective licensing adds to the chaos, and the costs for upgrading homes for EPC measures will really put the skids under the sector.

Then we have the prospect of the landlord ombudsman which, I’m predicting, won’t be on the side of landlords.

Plus, the landlord database where our private details are available to the world will be an issue.

Especially, since it will highlight ‘problem’ landlords.

Rents will now inevitably rise to counter the growing costs, bringing hardship to many tenants.

Landlords are facing a dilemma that’s not of our making.

The abolition of Section 21 has always sounded noble because the landlord has always been the ‘greedy’ or ‘exploitative’ one.

In reality, the world is about to learn what landlords really face as eviction cases clog the courts.

Unpaid rent, antisocial behaviour and rented homes wrecked will be top of the bill.

Generational impact of RRB

At the start of this, I mentioned that the reaction from landlords and property experts was subdued, but that’s not all.

The celebration from tenant activist groups who have pushed for this was surprisingly quiet.

Perhaps the penny is starting to drop as members and supporters start telling these clowns that their landlord is bailing out.

It’s going to be a sad day when Royal Assent is given, and the number of evictions begins to rise.

That means it could be a worrying Christmas for many, and that’s without Rachel Thieves’ Autumn Budget, as they begin the search for a home.

Though with all those illegal immigrants leaving hotels for nice, rented homes, they could be moved into those empty rooms.

At the moment, it’s like a Christmas Day truce in the trenches, but when the guns start again it’s going to change the environment completely.

We tried to warn renters and politicians and anyone who would listen.

But you ignored us, and now tenants need to prepare for very bad news.

Everyone in the PRS has been hit by the Bill because this ridiculous law will have a generational impact.

When the dust settles and small landlords disappear, and with no homes to rent, there’s going to be a very unpleasant political blowback.

Good.

Until next time,

The Landlord Crusader