Property industry news

The Rt Hon Angela Rayner MP reiterated the UK Government’s determination to fast-track its housing reform as she presented the Bill for its Second Reading less than a month after its introduction. A drop in the supply of homes to rent, gridlock in the justice system, and the possibility that rents will be inflated were among the key concerns MPs interjected throughout, with Rayner dismissing the potential unintended consequences of the Bill.

When a tenant reports an issue at a rental property, the response of letting agents is vital for maintaining positive relationships between everyone involved. Quick and effective handling of these problems not only keeps tenants happy, but also helps prevent possible deposit disputes, which can cause stress and delays at the end of the tenancy. Here, the Tenancy Deposit Scheme provides guidance on how to manage tenant-reported issues at the property, fostering good relationships and avoiding deposit disputes over repairs.

From the end of October 2024, UK banks will be able to hold payments for up to four days whilst investigations of potential fraud are carried out, raising concerns that the large transactions needed for property purchases may be incorrectly blocked. The change follows stricter rules on fraud compensation which came into force on 7 October 2024, meaning that banks must refund scam victims up to £85,000 within five days.

Practical measures to ensure local demand is properly considered and a realistic approach to incentives for developers and landowners are key issues Propertymark members highlighted in the Ministry for Housing, Communities and Local Government (MHCLG) National Planning Policy Framework (NPPF) consultation.

Concerns about the amount of available housing, pressure on local services, and a perceived threat to the area's character are behind the decision by Rugby Borough Council to use new powers to stop the spread of houses of multiple occupations in the town.

Officials from the Ministry of Housing, Communities and Local Government (MHCLG) working on the Renters’ Rights Bill spent 90 minutes with member representatives from across the country listening to the specific concerns of members and their clients about the proposed legislation. Propertymark has launched a member toolkit to support members share their expert perspectives with their local MPs and encourage them to work with us to find real solutions to the housing crisis, plus resources to help facilitate positive conversations with landlords.

The Renters’ Rights Bill is progressing through Parliament at pace, with the Second Reading of the legislation happening on 9 October, and Propertymark has launched a programme of support to help the sector prepare. Our recent webinar on the widely anticipated new law helped alert agents to why it will prove to be one of the biggest changes to the rental market in over three decades, and we have partnered with renowned legal expert Tessa Shepperson to provide training on the Bill and its implications.

Officials from the Ministry of Housing, Communities and Local Government (MHCLG) joined Propertymark’s Regional Executives for a forum on 25 September, where member feedback was presented on plans for the Bill. After the guide to the Bill, released on 26 September, we communicated with Housing Minister Matthew Pennycook, MP, to reiterate the concerns raised by practising letting agents.

The Secretary of State for Energy has committed to boosting minimum energy efficiency standards by consulting on proposals for private and socially rented homes to achieve Energy Performance Certificate C or equivalent by 2030.

The UK Government announced measures affecting letting agents, landlords, and tenants at the 2024 Labour Conference with Awaab’s Law legislation being brought forward to Autumn 2024 for the social rented sector with a consultation on a new Decent Homes standard across all rented sectors imminent.

As part of its brownfield-first approach to development, the UK Government has announced plans to support and expedite the approval of urban sites to sit alongside their plans to deliver 1.5 million homes.

Based on findings from a survey of over 700 letting agents, The Property Ombudsman (TPO) has published new guidance to help agents, landlords and tenants to deal with condensation, damp, and mould in their properties. Casework undertaken by the service in 2023 included over 1,000 enquiries, 200 investigations, and £36,000 in compensation awarded for cases involving damp and mould.