As the Renters’ Rights Bill teeters on the brink of becoming law, landlords have been urged ‘not to panic’.

Stephen Moss, CEO and Founder of property investment business Sourced (main picture), says the property industry should welcome the new legislation as it will deal with rogue landlords.

Moss says: “Here at Sourced we have long championed the Renters’ Rights Bill.

“We strongly believe that it represents the type of reform and professionalisation that the industry should have embraced years ago.”

Don’t panic

Many landlords are reported to be nervous about the effect of the bill, such as the end to Section 21 ‘no fault’ evictions.

“However we’ve consistently urged them not to panic. We have never bought into the idea that the Bill is a threat to professional lettings.

“On the contrary, we believe it will benefit the industry by reducing the number of rogue landlords.”

Profitable

Moss argues that replacing fixed term assured tenancies with periodic contracts will help encourage long-term relationships between landlords and renters.

“Good tenants who feel secure in their home stay will longer, pay reliably and are more likely to maintain their accommodation. This kind of market stability is always more profitable than uncertainty,” he says.

We believe that for too long this has been used as a crutch by those problem landlords.”

“We also support the abolition of Section 21, as we believe that for too long this has been used as a crutch by those problem landlords who are happy to allow their properties to deteriorate.”

And he says: “Landlords who rely on eviction threats rather than good service to retain tenants will now be forced out of the market.

“In our experience, professional landlords have rarely needed Section 21 because tenants who feel happy and secure in their accommodation are unlikely to deliberately cause problems.”

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