In the final episode of the Move iQ Podcast’s sixth series, Phil Spencer is back talking to our CEO Nathan Emerson about what the Government is proposing for the future of the housing market such as the abolition of section21 and deposit passports. Nathan also gives an update on the different initiatives that we’re involved with and how we’re driving change for the greater good of the sector.
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Why watch?
What regulation means for the industry and the devolved governments of the UK
What’s been outlined in the recent government white paper for housing
The Act, now over 70 years old, gives business tenants a legal right to renew their leases in many circumstances — a framework that has faced growing criticism for being outdated and overly complex. Propertymark responded to the consultation, advocating for modernisation of the legislation to reflect the current needs of businesses. These initial recommendations come as part of a wider review focusing on how well the law is functioning for commercial property leases.
The modern rental property is working harder than ever, with millions of people adopting remote or hybrid work patterns in the last five years and spending more time at home. This increased usage isn’t unreasonable: it’s reality. But under current rules, tenants are being penalised for “damage” that’s normal use, whilst landlords are absorbing more frequent replacement costs. Propertymark emphasises the importance of understanding fair wear and tear and applying it appropriately to avoid misunderstanding, confusion, and disputes.
Propertymark works to ensure our members understand the full extent of their legal obligations, and for letting agents this includes tenancy deposit protection. The Siddeeq v Alaian court case highlighted concerns about how and when prescribed information must be served, and with the implementation of the Renters’ Rights Bill on the horizon, it’s a relevant reminder that agents must be precise and compliant when dealing with tenancy deposits in England and Wales.
The Welsh Government has confirmed it will not proceed with proposals that would have required landlords to pay tenants compensation when issuing a Section 173 possession notice. The decision follows extensive consultation and lobbying from Propertymark and other sector stakeholders, who welcomed the move as a win for common sense and fair reform.