Will the Renters' Rights Act work or backfire?
5/1/202644 min
It's been a long time in the making and the idea has run through successive governments, but a new law to improve the life of those who rent their home has finally kicked in.
Whether it's much-needed or much-feared depends what side of the landlord fence you are on, but what's not in doubt is that the Renters' Rights Act is a massive shake-up.
The assured shorthold tenancy system that has been the backbone of renting a home for almost 40 years has been torn up and replaced with rolling contracts that tenants can get out of with two months' notice.
Landlords, however, will find it much harder to get their property back, put the rent up, or even turn down pets.
So, is this what the rental market needs, or is it likely to backfire as some property experts warn?
With decades of experience of renting, covering the property market - and even helping with a family business that's involved in it - Georgie Frost, Helen Crane and Simon Lambert dig into the Renters' Rights Act.
Plus, on this episode, the Bank of England held rates but could it really need to raise them three times this year and what's behind the rocketing number of 45p taxpayers and why isn't it Rachel Reeves' fault?
And finally, travel experts this week revealed where is still cheap to fly to for summer, so do you fancy a holiday in Cork, Dortmund or that old Wags' favourite Baden-Baden?
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Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane
Producer: Georgie Frost
Hosted on Acast. See acast.com/privacy for more information.
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Transcript preview
First 90 secondsGeorgie Frost· Host0:00
[upbeat music] Welcome to This Is Money podcast, sponsored by Trading two one two. Download the Trading two one two app and open a cash ISA with promo code TIM to get the twelve-month bonus promo rate at four point five one percent. Terms apply. I'm Georgie Frost, and joining me and Simon Lambert today is Helen Crane. And coming up, the biggest shake-up to renting in decades. The Renters' Rights Act comes into force this week. Much needed security for tenants, but is it the final nail in the coffin for landlords? Also today, interest rates have been held for now, but brace yourself for Trumpflation warns the Bank of England. So what should we be doing to prepare? Plus, we explore the huge rise in additional rate taxpayers, and you can't even blame Rachel Reeves for that one. And forget the Costa del Sol, have you considered Dortmund for your summer holiday? No, nor I. Don't forget, you can stay up to date with all the latest breaking money news. Just go to thisismoney.co.uk or download the app. But first, after six years and four prime ministers, the Renters' Rights Act has finally come into force, bringing with it some of the biggest changes to renting in decades. Originally introduced by the Conservatives, the new laws aim to give greater security and protections to tenants from evictions and unfair rent increases, among other things. But some say it is the final nail in the coffin for the beleaguered sector, with landlords selling up in droves. So will this all