The Renters’ Rights Bill 2024 is set to bring fairer, safer, and more secure renting conditions for both landlords and the millions of renters across the UK. With this legislation, tenants gain more rights, and landlords have clearer responsibilities, and we’ve broken down the key changes and what they mean.
Greater Security for Tenants
One of the landmark features of the bill is the abolition of ‘no-fault’ evictions under Section 21. This change means that renters can no longer be evicted without a legitimate reason, providing them with a greater sense of stability and security in their homes. The bill also introduces minimum fixed-term contracts, helping tenants feel more confident in their housing situation.
Stronger Protections for Housing Standards
In a step towards sustainable housing, the bill will enforce minimum energy efficiency standards for rental properties. For tenants, this translates into better-insulated homes, lower energy bills, and a reduced environmental footprint. Alongside this, the bill addresses housing conditions, ensuring all rented properties meet safety standards related to issues like damp, mould, and adequate heating. Tenants will have the right to live in well-maintained homes that support their health and well-being.
Greater Transparency in Renting Practices
A cap on rent increases will be brought in to ensure rents are kept fair and affordable, allowing tenants to budget more effectively without the fear of sudden, steep rent hikes. With clear guidelines on security deposits and fees, tenants can expect more transparent rental costs upfront, reducing financial surprises and making it easier to plan for their housing expenses.
For landlords, this bill means that rented homes will need to be stable, affordable, and offer healthy living environments. With renters having the right to a safe, energy-efficient home without the fear of sudden eviction, this gives them peace of mind. The bill also offers landlords stability in terms of long-term renters and their properties increasing in value due to energy-efficient products being installed or upgraded – and safety standards within the property increasing.
At Vibrant Energy Matters, we’re committed to supporting landlords in navigating these new regulations smoothly. Our team provides property assessments and guidance to ensure landlords meet energy efficiency and safety standards, ultimately creating healthier, more sustainable properties. As part of our commitment, we also install the energy upgrades, and solutions, through our highly-vetted and accredited network of installers.
At Vibrant we believe it’s important to understand why landlords should act promptly in upgrading their properties for several reasons:
Delaying until tighter MEES legislation is enforced will pressure the supply chain, which is already experiencing a shortage of high-quality installers in this sector. This will naturally lead to increased installation costs.
Investing in eco-friendly measures offers broader benefits, including the potential for higher rental rates, reduced tenant turnover, and preservation of the property’s capital value and marketability.
Currently, landlords can take advantage of various government funding options, such as the Boiler Upgrade Scheme, the Great British Insulation Scheme, and ECO4, among others. These programs are set to expire in the near future, so taking full advantage of these financial aids requires prompt action.
The Renters’ Rights Bill 2024 marks a significant shift in the UK’s rental market, promoting fairness, transparency, and respect for renters' rights. If you’re a landlord looking to understand these new requirements and aiming to meet the new legal obligations as early as possible, contact us today to find out how we can help.