The Labour Party won the UK General Election on Friday 5th July 2024. We explore the potential impacts this could have on the Lettings industry.

Labour’s manifesto mentioned some clear points on how they would like to change the rental market. This could have profound implications for landlords, tenants and property managers alike.

One of the most notable aspects of Labour’s plan involved reviving the Renters Reform Bill, which the Conservative Party had previously scrapped at the last minute. Labour supported the abolishment of the Section 21 notices (commonly known as “no-fault” evictions); rent controls (capping rent increases in line with inflation to make properties more affordable); a right for tenants to keep pets and more notice of the Decent Homes Standard and minimum energy efficiency rating.

Although Angela Rayner, the Deputy Leader, has stated that the Renters Reform bill will be discussed on the first day in office, the legislative process is extensive and multifaceted. Each new parliament requires the bill process to start from the beginning. It will need 3 readings in each of the House of Lords and the House of Commons. Despite its high priority, these procedural requirements mean that immediate implementation is unlikely.

As Labour begins to navigate the complexities of the legislative process, stakeholders in the lettings industry should prepare for upcoming changes. It is important to stay informed about the progress of these reforms.

If you think this may impact you, please do not hesitate to contact us. Our experienced ARLA Qualified Lettings Department would be happy to discuss it with you.

Offices in BattleHaywards HeathPulborough and Tunbridge Wells.