Inventories are ‘last line of defence against Renters’ Reform Bill’

Letting agents and landlords should adopt a rigorous, professional inventory policy to ease fears over the Renters’ Reform Bill, property management services company No Letting Go says.

The Renters’ Reform Bill proposes a shift in tenant rights that includes a ban on Section 21 ‘no fault’ evictions as well as an extension of the Decent Homes Standard.

REFORMS

Other reforms include making it easier to keep pets, an end to arbitrary rent review clauses as well as making it illegal for agents or landlords to have blanket bans on renting to families with children or those in receipt of benefits.

We all want decent homes in the PRS and we want a level playing field.”

Nick Lyons, Chief Executive of No Letting Go, says: “We all want decent homes in the PRS and we want a level playing field for both letting agents on the one hand and tenants on the other.

“This is best achieved through transparency at the outset of a tenancy agreement, regular monitoring throughout its duration and a thorough, detailed inspection when the term comes to an end.”

CRITICS

Some critics have warned that the proposals might force more property owners to sell-up and leave the sector.

But Lyons adds: “Reputable letting agents already operate at a level which is not threatened by these measures.

“But as an industry, letting agents and those servicing the sector must make sure that they are meticulous in all aspects of their operations.

“There are still adequate protections in existence but we have to ensure that protocols and compliance are spot on – this is the last line of defence.

“Critical to that is the preparation of a professionally prepared inventory – agreed and signed off by both parties – to underpin every tenancy agreement and reassure agents and landlords that their properties are valued as homes for the duration of the letting term.”