Industry leaders from across the property sector convened this week to discuss the far-reaching implications of the Renters’ Rights Bill, currently moving through Parliament. Hosted by lettings tech platform Goodlord, the event brought together prominent figures, including NRLA Chief Executive Ben Beadle, Propertymark CEO Nathan Emerson, the British Property Federation’s Director of Policy Ian Fletcher, and housing-focused crossbench peer Lord Best. Over 50 stakeholders joined the conversation, addressing critical concerns for landlords and tenants alike.
Unintended consequences of banning bidding wars
Goodlord CEO William Reeve expressed significant apprehension over the proposed prohibition of rental bidding wars. He warned that this policy could inadvertently result in landlords listing properties at inflated prices to counteract the negotiation process. “We could see horrifying headline numbers on rents,” Reeve said, adding that such a scenario would make the market less tenant-friendly. Reeve cited a similar policy in New Zealand, which was ultimately abandoned after proving unworkable.
Other industry leaders echoed concerns about how landlords might respond to changes designed to curb bidding wars. Many suggested that clarity on implementation and education for landlords will be essential to ensure fair outcomes.
Court system under strain
The Renters’ Rights Bill also places pressure on an already overstretched court system. Propertymark CEO Nathan Emerson raised the issue of whether the legal infrastructure can handle an expected rise in disputes from both landlords and tenants. Ian Fletcher, Director of Policy at the British Property Federation, reinforced this point, predicting that the strain on courts could “come back to bite” the sector if left unaddressed.
Ben Beadle, CEO of the NRLA, also highlighted how the removal of up-front payments—intended to help tenants—might harm those on the margins. “For renters who don’t meet referencing thresholds, upfront payments often provide a crucial lifeline,” Beadle said, cautioning against unintended consequences that could exclude vulnerable renters from the private market.
Calls for amendments and optimism for reform
Lord Best suggested that key concerns, such as those related to fixed-term tenancies and student lets, could be addressed through amendments in the House of Lords. While he acknowledged that some landlords may leave the sector as a result of the legislation, he dismissed fears of a mass exodus. Instead, he predicted that larger landlords would likely absorb much of the rental supply.
The event also underscored the ongoing imbalance between supply and demand in the rental market, with speakers emphasising the urgent need for new rental homes. However, there was widespread support for measures to improve standards, including upgrades to the Decent Homes Standard, and optimism that a robust Ombudsman could drive out rogue landlords.
Goodlord CEO Reeve also proposed incorporating Unique Property Reference Numbers (UPRN) into a national property register, which he believes could streamline compliance and improve transparency for landlords and tenants. “A detailed register could ensure key safety and legal requirements are tracked more efficiently, benefitting all parties involved,” Reeve added.
The Renters’ Rights Bill is scheduled for its second reading in the House of Lords on 4th February. While it marks a pivotal moment for the private rental sector, landlords and industry experts are urging policymakers to strike a balance that protects tenants while ensuring landlords remain supported.
