Renters’ Rights Act: The Extra Work Behind the New Rules for Landlords
The Renters’ Rights Act has now moved from legislation on paper to something landlords are dealing with as part of the day-to-day management of their properties.
Much of the discussion around the Act has focused on what has changed for landlords and tenants. But there is another side to the legislation that is becoming increasingly apparent: the additional time, administration and attention needed to manage a rental property and stay compliant.
New research highlights the scale of the issue. According to a recent survey of letting professionals, 73% reported an increase in administrative workload since the Renters’ Rights Act came into force, with one in four describing the increase as significant.
For landlords, this raises an important question: what does all this additional work actually look like in practice?
More compliance and record keeping
One of the biggest areas of additional work is compliance and record keeping.
The Renters’ Rights Act has introduced new requirements and processes, meaning landlords need to make sure they understand what is expected of them and keep the appropriate documentation and records.
There is now more to keep track of throughout a tenancy, from notices and tenant communications to important dates and deadlines. Making sure the right information is recorded and the correct processes are followed takes time and attention.
For someone managing a rental property alongside work and other commitments, keeping on top of these details can become time-consuming.
The consequences of getting an important process wrong can be significant, making accuraterecord keeping an important part of responsible property management.
Rent reviews now require more attention
Rent reviews are another area where landlords need to be mindful of the correct process.
Under the new rules, landlords generally need to follow the prescribed procedure when increasing rent, including providing the appropriate notice.That means rent increases are no longer simply a case of deciding on a new figure and communicating it to the tenant.
Landlords need to consider when a rent increase can take place, what notice is required and whether the correct procedure has been followed.
For landlords with several properties, keeping track of individual tenancy dates and rent review opportunities can quickly become another administrative task to manage.
Tenancy endings can involve more work
The end of a tenancy can also require more careful planning.With Section 21 no longer available and landlords needing to rely on specific grounds for possession, regaining possession of a property involves following the appropriate legal process.
This means landlords need to understand which possession ground applies, ensure the relevant requirements have been met and serve the correct notice.
There is also the practical side of managing the end of a tenancy - communicating with the tenant, arranging inspections, dealing with the property's condition and preparing for the next tenancy.
When the legal and practical elements are combined, bringing a tenancy to an end can involve considerably more time and organisation than simply issuing a notice.
Staying compliant is an ongoing responsibility
Perhaps the biggest change for landlords is that compliance cannot be treated as a one-off task.
The private rented sector is becoming increasingly regulated, and landlords need to stay aware of changes that could affect how their properties are managed.
That means keeping track of:
- Important tenancy dates and deadlines
- Rent review requirements
- Notices and possession procedures
- Required documentation and records
- Changes to legislation and guidance
- Communication with tenants
- Property management and maintenance responsibilities
What might be a quick task here and there can become a sizeable amount of time spent managing the property, particularly for landlords with several properties.
What does this mean for landlords?
The Renters’ Rights Act isn't necessarily about making property management impossible for landlords. Rather, it means that there is more to manage and more responsibility to keep on top of.
For landlords who are already experienced and have the time to stay across the requirements, that may be manageable.
For others, particularly those with multiple properties or limited time available, the additional administration can become a significant burden.
For landlords who don't want to spend their time keeping track of all these details, having a property manager take care of them can make life much easier.
How professional property management can help
A professional property management service can take care of many of the ongoing responsibilities involved in running a rental property.
Rather than having to keep track of every tenancy deadline, notice, rent review and compliance requirement yourself, landlords can have these processes managed as part of their wider property management service.
At Prop Home, our role is to help landlords manage their properties effectively while keeping on top of the practical responsibilities that come with being a landlord.
That means helping to manage the day-to-day details, communicating with tenants, coordinating maintenance and keeping the relevant processes moving - so landlords don't have to handle everything themselves.
As the regulatory environment becomes more complex, having the right support in place can provide valuable peace of mind.
The rules have changed, so has the workload.
The Renters’ Rights Act has brought significant changes to the private rented sector, and landlords are now dealing with more processes and responsibilities as part of managing their properties.
For many landlords, this means spending more time keeping track of requirements, records, deadlines and tenancy matters.
If you would rather spend less time dealing with the administration that comes with managing a rental property, Prop Home can help.
Our professional property management service takes care of the day-to-day details, giving you more time to focus on your investment rather than the paperwork and processes behind it.
Get in touch with our team to find out more about how Prop Home can help manage your rental property.
