Renters' Rights Act: What We Know So Far
The Renters' Rights Bill was granted Royal Assent on Monday, 27 October, and has officially become an act.
Although the law has been passed, the government has yet to announce the roadmap for implementing the rules, stating that clarifications will be added in the "coming weeks".
BREAKING NEWS: We've won!
The Renters Reform Coalition declared this after the bill's passing, indicating that the Act is seen as a win for tenants rather than landlords or agents.
- Landlords and agents argue that the new Act will result in higher rents due to increased risk.
- However, with rising rents in recent years, there are concerns about tenants' capacity to absorb further rent increases.
Author's summary: New Renters' Rights Act passed in the UK.