Property industry leaders gathered this week to discuss the opportunities and challenges that the Renters’ Rights Bill is likely to provide for those operating in the letting sector.
The event in Westminster for estate and letting agencies was hosted by Reapit, and was attended by representatives from a number agencies, including Savills, John D Wood & Co. and Leaders Romans Group.
Attendees gathered to discuss with industry experts and politicians the key challenges and opportunities the industry will have to navigate after sweeping changes in the Renters’ Rights Bill take effect later this year.
The Bill, currently awaiting committee scrutiny in the House of Lords, is the biggest reform to the private rented sector (PRS) in 30 years. Changes include removing fixed-term tenancies, evictions reform, stringent timelines on addressing hazards in properties, banning bidding wars, and preventing tenants from offering – and landlords or agents from accepting – rent in advance.
Speakers including Kevin Hollinrake MP, the Shadow Secretary of State for Housing, Communities and Local Government; legal expert David Smith from JMW; and political consultant Simon Darby from PLMR took questions from attendees about the legislation and its impact on their businesses.
Beyond providing insights, the event also served as an opportunity for Reapit to showcase proactive changes being made to its platform ahead of the legislation’s implementation, which is expected in the autumn.
Reapit is also running a follow-up Hot Topic webinar on Reapit IQ, detailing the key steps letting agents need to take to get ready for Renters’ Rights.
Speaking at the event, Dr Neil Cobbold, Reapit’s Commercial Director, emphasised the urgency for agents to act: “The Renters’ Rights Bill represents one of the most significant changes to the lettings industry in decades. With some provisions potentially coming into effect as early as September, agents must be proactive in preparing.
“There are plenty of challenges including tenancy reforms and eviction changes, but there are also many opportunities for agents to make a real impact on their tenants’ and landlords’ experience by acting as their trusted industry expert.”
