Landlord regulations 2021
We have a permanent page on our website that simply says 'The rules and legislations for letting a property change frequently, and keeping everything up to date can be a real headache - so how do you make sure you don't unwittingly become a 'rogue landlord'?
Of course, we go on to offer the answers, a link to our Landlord's regulations page is below. But before you visit this important page, here's a list of items our Lettings and property management teams will be looking to confirm and assist our landlords with over the coming months.
31st March – Extended notice periods for Section 8 and Section 21 terminates
The current six months’ notice period for Section 21 and Section 8 (for most grounds) will no longer apply. However, be mindful, that this date might be pushed back.
1st April – Electrical Installation Condition Reports – Applicable for ALL tenancies in existence
The penalty for non-compliance can be up to £30k per property which is levied upon the landlord to include where remedial works is not undertaken. it is really important to have evidence if unable to undertake an EICR for any reason i.e. Covid 19 issues.
1st April – Stamp Duty increase for non-UK residents
This will increase by 2% in addition to current stamp duty requirements for non-resident owners.
1st April – Deadline for letting agents to have Client Money Protection in place
This was extended by one year as issues with the client only bank account came to the fore.
4th May – Debt Respite Scheme (breathing space)
Tenants and guarantors will be able to apply for a standard breathing space or mental health breathing space for incurred debts for a period of time if a debt advisor believes that they are eligible. This does not remove the right for the tenant to pay ongoing contractual rent.
1st July – EU/EEA Nationals and Right to Rent
The automatic right to reside in the UK for new EU/EEA applicants will no longer apply. All new applicants except those from Ireland will need to prove a right to rent (pre-settled or settled status evidence). This will not be retrospective so current tenants will not need to provide evidence.
In the Pipeline
Carbon monoxide alarm requirement
Where there is a gas appliance (not cooker) a carbon monoxide alarm will be needed in the room – Introduction maybe later this year.
Renter Reform Bill
The abolishment of section 21 notices.
Minimum energy performance
The drive towards energy efficiency has intensified with some suggestions that the minimum rating for lettings will be *C* by 2025. A potential 50% of properties fall into the D and E bracket, so that could be a hard and expensive target to reach for many landlords.
Click here for our full and concise Landlord's guide to regulations.
Thu 04 Mar 2021