New year, new you, so they say and 2025 will certainly represent a new start for many of us, with widespread legislation change set to alter the way we run our businesses for good.
The last 12 months saw a new Government, and with that, new proposals to change the way the private rented sector operates, in the form of the Renters’ Rights Bill.
Elsewhere, two separate energy efficiency consultations will outline the detail of the Government’s new EPC plans, which may result in rental homes being taken out of the market unless they can comply with new targets by 2030.
It’s been a challenging few years, and a tough economic climate and the high cost of borrowing combined with the change up ahead will undoubtedly place yet more pressure on landlords.
This, of course, will have a knock-on effect on tenants.
There are already 21 households now competing for each property advertised for rent and this figure could well rise, with the most recent Government data showing that a third of landlords (31 per cent) are planning to sell properties they rent out in the next two years, up from 22 per cent in 2021.
In contrast, just seven per cent say they are planning to provide new homes to rent in the next two years, compared with 11 per cent four years ago.
Not the most positive position in which to start the year admittedly – but, rest assured, it’s not all doom and gloom.
We landlords are an adaptable bunch. We are resilient and dynamic. This won’t be the first time we have seen the goalposts move, and I doubt very much it will be the last.
The good news is, as NRLA members, you will not be facing these changes alone – we will be with you every step of the way.
Laying the ground
With no date set for the next reading of the Bill [at the time of going to press] our best estimate is that the Act will be introduced sometime in the summer; however our teams are already working hard behind the scenes to ensure change is fair and workable, and that you have all the necessary resources at your fingertips when the time comes.
As we enter 2025, we will carry on banging the drum when it comes to highlighting the housing supply crisis that is making it harder and harder for would-be tenants to find a home; the very people the Renters’ Rights Bill was designed to help.
We will stress to Government decision-makers the need to encourage growth if the sector is to continue to house all those looking to it for a home and the need to ensure the court system is fit for purpose and ready to cope with the anticipated increase in demand.
As always, the devil will be in the detail when it comes to the new legislation, and we will continue to campaign robustly on your behalf, for the nips and tucks that can make it workable for landlords and tenants.
Preparation has begun on the essential documents you will need to let out your properties, post-implementation and we have also developed a new NRLA Renters’ Rights training course.
The course will launch in February, when we are likely to have more comprehensive information as to what the final Act will look like. We are releasing new dates all the time, after the first sessions sold out within days.
Hitting the 110,000-member mark last year, we will continue to grow the organisation in 2025, with a number of exciting new developments in the pipeline this new year.
In the meantime, while there is no doubt the coming year will be challenging, we will continue to campaign on your behalf and provide all the resources you need to run a successful and compliant business; whatever lies ahead.
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About the author
Ben Beadle is chief executive of the National Residential Landlords Association (NRLA), the UK’s largest trade body for landlords.
A landlord himself since the age of 20, Ben started out as property manager before working his way up through the ranks at the Tenancy Deposit Scheme.
He was then Operations Director at property management business Touchstone before overseeing the merger of the National Residential Landlords Association (NLA) and Residential Landlords Association (RLA) to create the new trade body earlier this year.
His key aims as head of the organisation are to strengthen the voice of landlords in Westminster and Cardiff, to improve the reputation of landlords in the media and to support members through information, training and accreditation.
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The views expressed in this content are solely those of the author alone and do not necessarily represent the views of TDS, its officers, or employees. To read more on TDS views, visit our Policies & Procedures webpage
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