Rental Reform Update LR

Rental Reform Update

Interesting for: Rental Provider, Renter

As the last vestiges of COVID19 impacts wash away and we enter a new era of low vacancy, soaring rents and huge renter demand, any rental provider would be excused for forgetting the 138 rental reforms rolled out post pandemic. Whilst the reforms were heavily in favour of renters, the majority of rental providers simply got on with the business of meeting new standards and achieving compliance for their properties. Now that we’re approaching the next long awaited compliance deadline of 29 March 2023, perhaps it’s time for rental providers to review progress so they don’t fall afoul of the regulators.

So, what is due on 29 March 2023?

Electrical safety

All properties must have an electrical safety inspection completed every two years. This must be completed either before a new tenancy commences, or the 2023 deadline.

Smoke alarms

All properties must have a smoke alarm inspection completed every year. This must be completed either before a new tenancy commences, or the 2023 deadline.

Gas safety

Any property with a gas appliance must have a gas safety inspection completed every two years. This must be completed either before a new tenancy commences, or the 2023 deadline.

Rental minimum standards 

All properties offered for tenancy must achieve 14 minimum standards by the 2023 deadline. This includes ensuring there is an energy efficient heater in the main living area, electrical safety switches installed, appropriate ventilation in habitable rooms, etc.

At Woodards, we want to ensure all of our clients are up-to-date with all the new reforms and standards. As a residential rental provider, it is crucial to comply with the new standards in order to continue to use your property as an investment vehicle. At best rental providers who have not met with minimum standards, could be forced to carry out works by their renters under urgent timeframes. Worst case, some rental providers may find renters breaking fixed term agreements or pulling out of agreements prior to commencement due to minimum standards or safety checks not being completed.

We understand that meeting these requirements may seem overwhelming, so Woodards offer a solution to ease the burden. Our network of qualified electrical and plumbing contractors can perform the required checks at your property, provide quotations for necessary works and carry out works if needed. This service comes at no additional cost and is part of our commitment to helping property investors navigate the reforms and ensure they meet all requirements to provide a safe and compliant property for their renters.

If your rental property is currently under Woodards’ management, your property manager will contact you if your property requires a safety check. Our property managers have been working diligently for over 2 years now to ensure our clients' properties meet minimum standards by the deadline. If you have been delaying your decisions, or taking time to carry out research, the time to act is now to ensure you meet the March deadline.

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