William Reeve, CEO of Goodlord, has called on ministers to consider the concerns of landlords as the Renters Reform Bill approaches. Reeve believes that landlords are often made scapegoats for the issues facing the housing sector, which does not help anyone involved.
As rents increase and the availability of homes decreases, the nation’s 20 million renters are struggling. With over 40 enquiries for each available property, letting agents are witnessing an unprecedented demand.
Reeve acknowledges that the Renters Reform Bill includes important changes that aim to strengthen tenant rights. However, he argues that the bill does little to address the growing number of landlords leaving the market, which will ultimately cause the market to collapse.
A combination of rising mortgage rates, increased costs, and mounting regulations are pushing landlords out of the private rental sector. With fewer landlords, there are fewer homes available to rent, and tenants suffer as a result.
With the UK’s population growing and many renters unable to transition to homeownership due to higher interest rates and rising living costs, the demand for rental properties is only increasing. Despite this, the government’s target of building 300,000 homes per year seems to have been forgotten.
Reeve suggests that the Renters Reform Bill should consider measures that will incentivise landlords while protecting tenants. These measures could include housebuilding, grants and tax breaks for energy-efficient homes, and a “one out, one in” policy for local councils.
Additionally, Reeve calls for a more streamlined and consistent licensing regime for landlords, as the current system is bureaucratic and unattractive for investors. He also proposes a more flexible approach to energy performance upgrades and the reinstatement of tax relief under Section 24.
By focusing on tenants’ rights and neglecting landlord incentives, Reeve warns that the government risks exacerbating the housing crisis. He urges the government and the wider market to collaborate with landlords to create a more sustainable future for renters.
