Grainger plc, the UK’s largest residential landlord and a key figure in the Build to Rent sector, has publicly welcomed Labour’s Renters Rights Bill, stating that it is a step towards improving the overall standards within the rental market. The company, which operates thousands of rental properties across the country, has long been involved in discussions surrounding rental reforms and sees the bill as a positive move for both landlords and tenants.
In a statement to its shareholders via the London Stock Exchange, Grainger highlighted its ongoing commitment to higher rental standards. The company said, “As the country’s leading responsible landlord, Grainger has been advocating for better rental conditions for many years.” Grainger has consistently supported measures aimed at enhancing tenant protections and creating a more balanced relationship between renters and landlords.
The Renters Rights Bill, which has been backed by Labour, seeks to introduce a range of reforms to provide tenants with greater security and improved living conditions. These changes include tighter regulations on landlords and more robust measures to ensure that properties meet acceptable standards. Grainger’s support for these initiatives reflects its position as a responsible and long-term player in the housing sector.
Grainger’s endorsement of the bill aligns with its broader business strategy of promoting sustainable and high-quality housing solutions. As the Build to Rent sector continues to grow, the company believes that raising standards across the market will benefit both landlords and tenants in the long run. By championing these reforms, Grainger aims to maintain its reputation as a leading and ethical landlord in the UK rental market.
This statement comes at a time when housing reforms are increasingly being debated, with many calling for better regulation of the private rental sector. Grainger’s backing of the Renters Rights Bill signals its intention to stay at the forefront of these changes and contribute to a more stable and fair rental market in the UK.
The proposals in the Renters Rights Bill align with Grainger’s long-standing approach of offering high-quality, energy-efficient homes to a variety of tenants, with a strong focus on customer satisfaction and retention. Grainger has also been a supporter of the abolition of ‘No Fault’ evictions (Section 21). Under the new proposals, landlords will still be able to address issues such as unpaid rent or anti-social behaviour.
Grainger has taken credit for contributing to some of the bill’s measures, stating that it played a key role in shaping the draft legislation. The company was involved in providing input to the ‘A Fairer Private Rented Sector’ White Paper in 2022 and looks forward to continuing its work in shaping the final version of the legislation.
The Renters’ Rights Bill will, according to the government:
The new proposals aim to abolish Section 21 evictions and introduce a simpler tenancy structure, where all assured tenancies become periodic. This change will provide tenants with more security, allowing them to challenge unfair practices or rent increases without the threat of eviction. The new system will be implemented in one stage, ensuring immediate security for all tenants.
The bill ensures that possession grounds are fair to both tenants and landlords. Tenants will benefit from more protection, while landlords will still have the right to recover their property when reasonable. New safeguards will give tenants additional time to find a new home if a landlord decides to move in or sell the property. The bill also aims to prevent misuse of eviction grounds by unscrupulous landlords.
Stronger protections are included against backdoor evictions, allowing tenants to appeal excessive rent increases designed to push them out. While landlords can still raise rents to match market value, an independent tribunal will review any disputes, ensuring fairness in the process.
The proposals also introduce a Private Rented Sector Landlord Ombudsman, designed to provide a quick, fair, and impartial resolution for tenant complaints. This will ensure tenant-landlord disputes are handled in a similar way to how complaints are addressed in social housing and property agent services. The ombudsman’s decisions will be binding, offering greater accountability for landlords.
A new Private Rented Sector Database will be created to help landlords understand their legal responsibilities and show compliance, giving responsible landlords more confidence. It will also provide tenants with better information to make informed decisions before signing a tenancy agreement. Local councils will benefit from the database by focusing enforcement efforts where they are most needed. Landlords must be registered on the database to use certain possession grounds.
Tenants will have stronger rights to request a pet, which landlords must consider and cannot refuse without good reason. Landlords can require pet insurance to cover any potential damage to their property.
The Decent Homes Standard will be extended to the private rented sector, ensuring safer and higher-quality homes for tenants and addressing substandard housing in communities.
‘Awaab’s Law’ will also apply to private rentals, setting clear legal deadlines for landlords to address serious hazards in homes to ensure safety.
Discrimination against prospective tenants based on receiving benefits or having children will be made illegal, promoting fairness in the rental market.
The practice of rental bidding will be banned. Landlords and agents will be prohibited from requesting or accepting offers above the advertised rent. They will be required to publish a fixed asking rent, and accepting offers above this amount will be illegal.
Local authority enforcement will be strengthened by expanding civil penalties and introducing new investigatory powers. Local authorities will also be required to report on their enforcement activities.
Rent repayment orders will be improved by extending them to include superior landlords, doubling the maximum penalty, and ensuring repeat offenders must repay the full amount.
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