As the Second Reading of the Renters’ Rights Bill takes place in the House of Lords today (4th February), Propertymark has sounded the alarm, urging Peers to push back against what it deems excessively rigid regulations—rules that, if left unchecked, could constrict the supply of rental properties and send rent prices soaring.

Recent deliberations in the House of Commons saw the Government introducing amendments, among them a cap on the amount of rent landlords can request upfront. Housing Minister Matthew Pennycook MP has defended the Bill, insisting that it strikes a balance by bolstering protections for landlords and their investments.

Despite Propertymark’s ongoing engagement with MPs, significant concerns persist. While some issues were aired during the Third Reading in the Commons, a veil of uncertainty still shrouds critical aspects of the legislation—most notably, the murky regulatory landscape surrounding short-term lets.

Another pressing question mark hovers over student landlords who own properties outside the House in Multiple Occupation (HMO) classification. The revised eviction grounds introduce ambiguity regarding how these landlords can structure tenancies while ensuring security of tenure.

Adding to the unease is the question of enforcement. Propertymark has expressed deep reservations about whether local councils possess the necessary bandwidth and financial resources to uphold the proposed regulatory framework. Compounding these worries is the glaring lack of a definitive timeline for implementation, leaving lettings agents, landlords, and tenants in limbo.

Without a structured and transparent roadmap detailing when these reforms will take effect, Propertymark warns that confusion will persist, undermining confidence in the rental sector.

The organization has long championed balanced and pragmatic reforms, ensuring that the voices of property professionals are heard throughout the legislative process. As part of this advocacy, more than 200 emails and letters have been dispatched to Peers by Propertymark members across the country, leveraging the association’s dedicated Toolkit. This resource equips agents with direct contacts and pre-drafted letter templates to facilitate engagement with members of the House of Lords.

Timothy Douglas, Head of Policy and Campaigns at Propertymark, underscored these concerns: “Propertymark recognises the Government’s intention is to protect renters and provide them with greater security.

“However, there is a real concern from letting agents that overly restrictive regulations will reduce the supply of rental homes, drive up rent prices and make it even more difficult for people to find affordable housing.

“We are therefore calling on Peers to make the Renters’ Rights Bill fit for purpose.”

Douglas further stressed the importance of clarity in rolling out the proposed changes:

“A clear timetable for implementation must be set out by the Government, including a commitment to enact the registration of short-term rental property requirements as passed in the Levelling-up and Regeneration Act alongside these reforms to level the playing field for landlords and the long-term rental market.

“There is a desperate need for the Government to confirm to the sector about what court reform looks like and take action.

“Additionally, the Government must revise the provisions on restricting rent in advance to better protect vulnerable tenants and allow agents and landlords to process applications and be able to set up tenancies securely.”

Concerns over pet-friendly tenancy provisions remain a sticking point, with Douglas adding: “Concerns also remain about the viability of pet insurance products and a better solution would be to extend the deposit cap requirements.

“Standards and enforcement are key to these reforms and with new requirements for landlords to have redress, the introduction of a code of practice across existing and new schemes would ensure complaints are adjudicated in the same way and quality of service is more consistent across the sector.”

As the legislative process unfolds, the rental market awaits decisive action from the Government—action that must not only safeguard tenants but also foster a fair and sustainable landscape for landlords and agents alike.