.png)
The Renters’ Rights Bill, currently progressing through the UK Parliament, is set to bring significant reforms to the rental sector specifically in England – Scotland, Wales, and Northern Ireland have their own separate rental laws and regulations – impacting both new and existing tenants as well as corporate relocations.
Even before becoming law, the Bill is affecting home searches in England: fewer available properties, faster market turnover, and the resurgence of bidding wars. Further anticipated consequences include higher asking prices, new landlord registration costs leading to higher costs, and a possible preference for corporate rentals, which remain exempt from certain provisions.
“For corporate relocations, a shift to periodic tenancies offers greater flexibility, allowing assignees to terminate leases as needed,” said Sarah Charlton, Senior Global Mobility and Property Specialist at Icon Relocation. “However, concerns over reduced landlord control have already led to lower rental stock levels as some landlords exit the market, potentially making home searches more challenging as well as increasing rents.”
If the Bill is passed, key proposed changes are expected to take effect in mid-2025, but some provisions may be implemented immediately and others phased in later.
“As the landscape evolves, relocation professionals must navigate these changes to secure optimal housing for assignees,” said Mollie Ivancic, SVP, International Services at NEI Global Relocation. “NEI and Icon teams are up-to-speed and trained on the possible impacts of the Bill and prepared for if and when any changes become official.”
NEI Global Relocation and our partners at Icon offer global companies outstanding, proactive guidance to ensure the correct support is always provided. If questions on this topic or other global mobility issues, please contact:
· NEI’s Mollie Ivancic, SVP, International Services: mivancic@neirelo.com +1.402. 397 8486
or
· Icon’s Sarah Charlton: Sarah.Charlton@iconrelocation.com, +44(0)1892 600500
For further details on England’s Renters’ Rights Bill, visit https://iconrelocation.com/the-renters-rights-bill-predictions-and-forecasts/
The Renters’ Rights Bill, currently progressing through the UK Parliament, is set to bring significant reforms to the rental sector specifically in England – Scotland, Wales, and Northern Ireland have their own separate rental laws and regulations – impacting both new and existing tenants as well as corporate relocations.
Even before becoming law, the Bill is affecting home searches in England: fewer available properties, faster market turnover, and the resurgence of bidding wars. Further anticipated consequences include higher asking prices, new landlord registration costs leading to higher costs, and a possible preference for corporate rentals, which remain exempt from certain provisions.
“For corporate relocations, a shift to periodic tenancies offers greater flexibility, allowing assignees to terminate leases as needed,” said Sarah Charlton, Senior Global Mobility and Property Specialist at Icon Relocation. “However, concerns over reduced landlord control have already led to lower rental stock levels as some landlords exit the market, potentially making home searches more challenging as well as increasing rents.”
If the Bill is passed, key proposed changes are expected to take effect in mid-2025, but some provisions may be implemented immediately and others phased in later.
“As the landscape evolves, relocation professionals must navigate these changes to secure optimal housing for assignees,” said Mollie Ivancic, SVP, International Services at NEI Global Relocation. “NEI and Icon teams are up-to-speed and trained on the possible impacts of the Bill and prepared for if and when any changes become official.”
NEI Global Relocation and our partners at Icon offer global companies outstanding, proactive guidance to ensure the correct support is always provided. If questions on this topic or other global mobility issues, please contact:
· NEI’s Mollie Ivancic, SVP, International Services: mivancic@neirelo.com +1.402. 397 8486
or
· Icon’s Sarah Charlton: Sarah.Charlton@iconrelocation.com, +44(0)1892 600500
For further details on England’s Renters’ Rights Bill, visit https://iconrelocation.com/the-renters-rights-bill-predictions-and-forecasts/
