King's Speech 2024 - What will impact Landlords?

The UK Government has unveiled an ambitious legislative agenda to rebuild Britain, fulfilling their manifesto promises to enhance transport, create more jobs, and accelerate the development of housing and infrastructure. Over 40 Bills were announced in the King's Speech today, 17 July 2024. More debates will follow, but here is an overview.

Renters' Rights Bill

- Abolish Section 21 to eliminate 'no fault evictions'

- Enhance renters' rights and protections, including the ability to request pets

- Ensure private rented homes meet safety standards with a Decent Homes Standard and 'Awaab’s Law'

- Create a digital database for the private rented sector

- Establish a new ombudsman service for the private rented sector

- Prevent discrimination against tenants with children

Draft Leasehold and Commonhold Reform Bill

- Implement remaining Law Commission recommendations to strengthen leaseholders’ rights

- Modernize the commonhold legal framework

- Restrict the sale of new leasehold flats

- Regulate ground rents for existing leaseholders

- End unfair costs and practices in 'fleecehold' private estates

- Enforce the Leasehold and Freehold Reform Act 2024 to provide leaseholders with more rights, power, and protections

Planning and Infrastructure Bill

- Accelerate upgrades to the national grid and enhance renewable energy through a streamlined process for critical infrastructure projects, with a review process for National Policy Statements every five years

- Modernise planning committees

- Strengthen local planning authorities' capacities

- Reform compulsory purchase compensation rules to ensure fair compensation

- Utilise development to fund nature recovery

Next Steps for the Legislation

Draft Bills are issued for consultation before being formally introduced to Parliament, allowing for proposed changes before formal introduction. More information on all the draft legislation is now available here: King's Speech 2024 background briefing final GOV.uk.docx (publishing.service.gov.uk)

Refer to pages 69-71 for the Renters' Rights Bill, and 75-77 for the Draft Leasehold and Commonhold Reform Bill.