Open-ended tenancies to change deposits significantly, says expert

Eddie Hooker of Mydeposits makes comments as Renters' Rights Bill enters its final stage this week.

Eddie Hooker, Mydeposits

The Renters’ Rights Bill will this week become law and bring an end to fixed-term AST tenancies and that will have huge implications for ending tenancies, says Mydeposits boss Eddie Hooker (pictured).

The Bill has now reached what is known as the ‘ping pong’ stage, when it bounces between the House of Commons and House of Lords until a final version is approved by both Houses, and it is then sent to the King for Royal Assent.

We are approaching a major turning point for the private rented sector.”

The Government’s large majority means there are likely to be minimal amendments. As it stands, once it becomes law, all tenancies will become periodic, enabling tenants to stay in their home until they decide to move by giving 2 months’ notice. The only exception will be for purpose-built student accommodation.

Hooker says: “We are approaching a major turning point for the private rented sector. The Bill’s reforms will affect both landlords and tenants, from the end of no-fault evictions to stronger rights and greater accountability.

Mydeposits’ role has always been to provide fairness and transparency in deposit protection. Most deposits are returned without issue, but when disputes arise, it is vital they are resolved quickly and impartially.

Understanding the process

“While the Bill does not change deposit law directly, the shift to open-ended periodic tenancies will alter how deposits are managed. Without fixed end dates, it becomes even more important that tenants and landlords understand the process for closing a tenancy and releasing the deposit.

“We will continue to ensure deposits are handled fairly and returned promptly when agreements end, whatever form those agreements take.

And Hooker concludes: “These changes will bring new responsibilities for landlords and fresh protections for tenants. What matters now is clear guidance and smooth implementation so that everyone understands their rights and obligations.”


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