We know a lot of landlords won't be ready for the changes coming with the Renters' Rights Bill, and leaving it until the last minute could cause unnecessary stress and risk. Here are some practical steps you can take now to make sure you're prepared.
1. Start with a self-audit
Review how you manage your properties and get your paperwork and processes in order now. That way, when the new Private Rented Sector Database opens for registration, you can complete it straight away without delays. If you use a management service, ask them directly how they're preparing for the changes. If their answer doesn't give you confidence, it may be time to consider other options.
2. Keep detailed records
Store everything: tenant correspondence, maintenance and upgrade notes, inspection reports, contracts, and accounts. Even small details could be important if you need to show evidence later.
3. Invest in compliance
Many clauses in current contracts won't comply with the new rules and will effectively be erased, so it's a good idea to get a new agreement drafted when they get updated. While there's a cost involved, it's a worthwhile investment to avoid problems later. Using a professional ensures your contracts are legally sound and will meet the Renters' Rights Bill requirements.
4. Stay informed
Set aside time each week to read industry updates and check trusted sources. Regulations are changing quickly, and being informed will help you act early rather than react under pressure.
5. Remember – the sector is here to stay
The Bill is aimed at tackling non-compliant landlords, not those providing good-quality homes. Once you adjust to the new rules, you may find the system works better for both you and your tenants.
The bottom line: act now, keep on top of your records, and make compliance part of your routine. That way, you'll be ready when the Renters' Rights Bill comes into effect and not scrambling to catch up.
- Mandy Crubilier, Property Management Manager