The chief executive of the National Residential Landlords Association is demanding a credible implementation plan for the Renters Rights Bill.
The. Ill is widely expected to become law within weeks, but with few clear deadlines or timetables for implementation.
The NRLA is warning that recovery in the rental market remains fragile, with the demand for rental housing still outstripping supply. Data from the research consultancy Pegasus Insight has found that 71% of NRLA members continue to report strong tenant demand for their properties.
Meanwhile landlord confidence in the UK economy is at rock bottom, with just 2% reporting confidence in it ahead of the Autumn Budget – the joint lowest level ever recorded by Pegasus Insight.
With the prospects for recovery in the rental market now delicately poised, the NRLA is calling on the Government to use the forthcoming Budget to support long term investment in new decent quality rented housing.
Alongside this, it insists the Government needs to work closely with the sector to ensure a credible plan is in place to implement the Renters Rights Bill with as little disruption to the market as possible. This must include a clear and realistic timeframe that allows for a smooth and seamless transition to the new tenancy system.
Chief executive Ben Beadle comments: “Tenants across the country continue to face the reality of there not being enough homes to meet demand. Meanwhile, the sector is craving certainty about how the Government plans to implement the biggest overhaul of the market for almost 40 years.
“Now is the moment for ministers to get behind a clear, credible plan that eases pressure on renters, supports investment in new homes to rent, and ensures the smooth implementation of the Renters’ Rights Bill.”
This article is taken from Landlord Today