The Renters' Rights Bill, introduced on 11 September 2024, aims to reform the private renting sector in England by enhancing tenant protections and regulating landlord practices. It proposes abolishing Section 21 evictions, introducing a Private Rented Sector Landlord Ombudsman, and enforcing fair rent standards, among other measures. This landmark bill will impact both the 11 million private renters and 2.3 million landlords across the country.
A key concern for the insurance industry is what impact the bill might have on the availability of alternative accommodation.
Currently, the Bill is progressing through Parliament. The next major step is Committee Stage in the House of Commons, scheduled for 22 October 2024. During this stage, a select group of MPs will scrutinise the Bill in detail and propose amendments. After Committee Stage, the Bill will return to the Commons for Report Stage and Third Reading, expected in late 2024 or early 2025. If it progresses smoothly, it will then move to the House of Lords for further review in early 2025, with Royal Assent projected by May 2025, making it law by summer.
Stay tuned as we track its progress through Parliament.
If you have any questions on this topic, get in touch.
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