Renters' Rights Bill response 1 October 2024
Posted October 1st 2024
Following on from the release of the the Renters' Rights Bill on 26 September 2024, we have now reviewed the draft bill in more detail and Adam Latimer, Intercounty Managing Director and one of the Directors of the AIG group which Frost's are part of, has created a quick video that summarises the key points.
As a quick read, we have also highlighted the key points from Adam's video below.
Twelve months secure tenancies
Tenants will have secure tenancies for the first 12 months, ensuring that as long as they maintain the property and pay rent, you will have a stable long-term tenant, a consistent income and reduced hassle of tenant turnover.
Extended notice periods
If you are looking to take ownership of your property you will will now have a 4-month notice period for repossession or sale, and tenants must give 2-months' notice. This reduces the risk of void periods, allowing you to plan ahead and secure new tenants with minimal gaps while benefiting from a smooth transition.
Clarity on grounds for possession
In cases of anti-social behaviour, arrears or property misuse, you may rest assured that strong protections will remain in place, allowing you to retain control over your investment while protecting your property's condition.
Pet requests
Stricter rules are being introduced, meaning that landlords will no longer be able to refuse tenants with pets without a reasonable justification, such as head lease restrictions or unsuitable property conditions. According to the latest amendment, landlords will also be responsible for any potential costs related to pet-induced property damage.
Next steps
The Renters' Rights Bill will have its second hearing in Parliament on the 9 October. We will review any updates from this session and provide you with an update if there are any notable changes made.
However, if you do have any immediate queries or concerns, or just want to speak to us about these changes, then please feel free to contact your local branch for further information.
