"Everyone within the rental sector, from individual landlords to substantive corporate operators, will need to comply with the Renters' Rights Bill once it becomes law"
- James Maguire - Housing Hand
The much-anticipated Renters' Rights Bill is likely to become law this spring, based on its rapid progress through Parliament. As such, the Bill is expected to define and shape 2025's key rental sector trends, according to UK rental services provider Housing Hand.
“Everyone within the rental sector, from individual landlords to substantive corporate operators, will need to comply with the Renters' Rights Bill once it becomes law,” explains James Maguire, Sales and Business Development Director at Housing Hand. “Alignment with the Bill will therefore be top of mind for all those in the sector over the coming year.”
Landlords of houses in multiple occupation and Build to Rent are some of those anticipated to be most impacted by the Renters' Rights Bill. With the Bill set to end fixed-term tenancies, many of those who house students are concerned about potential void periods.
Students will be able to leave their accommodation with two months' notice at any point. However, landlords will be challenged to be able to replace the departed renter with another student until the next academic year – hence the concern around long void periods. According to Housing Hand's data, 2.91% of the total tenancies that the company has guaranteed since July 2022 have ended early but this was on the basis of a fixed term with little opportunity to give notice or leave without liability.
Finding solutions to issues such as this will be at the heart of many accommodation providers' success in 2025, as they learn to navigate the requirements of the Renters' Rights Bill. Housing Hand, as the UK leading guarantor service, is one of the businesses that will be there to support them in their endeavours.
James concludes, “Housing Hand provides a range of services designed to support the UK rental sector, from guarantor services to helping renters find accommodation. As the sector evolves in line with the Bill, so will our offering. We are also working closely with landlords of HMOs, as well as purpose-built student accommodation and Build to Rent operators, to keep on top of the changes to the Bill as it progresses through Parliament. Our goal is to support the rental sector to be as prepared for the Bill as possible.”
