New Legislation and Laws Which Could Affect Landlords in 2022

New legislation and Laws which could affect landlords in 2022

As we enter the new year here at Michael Poole, we want to inform you of upcoming changes that affect landlords in 2022, Here are just a few incoming changes to take notice of.

Rent prices rising 

It has been predicted that within this year (2022) the rental prices will increase, the average rental price estimated to increase around 4.5% throughout the UK. However, the rising rent prices predictions could all change depending on the covid status and spread of Covid19 throughout the UK.

Plans for Reforms 

The long-awaited Renter Reform Bill is expected to come into place in late 2022 or 2023. However, the government revealed it is set to replace section 21 from the housing Act. The bill plans to introduce a database that will gather rogue landlords and letting agents, increasing transparency for all parties. Furthermore, the bill will introduce lifetime deposits for tenants to allow them to cut costs when moving rental properties. The details are yet to be announced, but Landlords need to prepare for these upcoming changes.

Energy-efficient changes 

It is the law that no properties should be rented with an Energy Performance Rating (EPC) below an F or G unless they have an exemption. Currently, it has been predicted that across the UK properties have an EPC rating of D or below. The government plans to increase the minimum energy standard within 2022 to a C rating. Putting pressure on Landlords to improve on their energy standards within their properties.  

Letting with Pets 

A house is not a home without a pet, something a pet-loving nation would agree with. After the pandemic, there has been a surge in dog and puppy sales, with around 3.2 million households now owning a pet. For many, this is a factor in not being able to rent a home. But what does this mean for landlords? It means there is a push from politicians to change the law within the UK, looking to cut down on landlords dismissing a household due to pets. While this is risky for Landlords, it could benefit them as families are more likely to settle in a rented home with their pet. To reduce the risk of tenants with pets you can ensure you have a thorough referencing process and the correct insurance.