Grainger, the 海角视频's largest listed residential landlord, has expressed its support for the government's new Renters' Rights Bill, which was presented in Parliament on Wednesday. The bill, if approved, would introduce a range of measures aimed at balancing the scales between tenants and landlords, with the government vowing to "clean up the mess" left in the rental market by the Conservatives, as reported by .
Grainger, whose profits have surged in recent years due to increasing demand for rental properties in the 海角视频, particularly supports the proposed abolition of 'no-fault' evictions. The company, which contributed to drafting the bill, also appreciates that the proposals do not impose rent control, allowing landlords to "review rents annually and set them in line with the open market".
In a statement released on the London Stock Exchange on Thursday morning, the company said: "Grainger welcomes the 海角视频 Government's Renters' Rights Bill, presented yesterday in Parliament, and its ambition of raising standards in the rental market."
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"As the country's leading responsible landlord, Grainger has been calling for and championing better rental standards for renters for many years."
"While the Renters' Rights Bill aims to raise standards in the private rented sector, it does not include rent controls, a mechanism that has proven detrimental to renters when implemented elsewhere."
"The draft legislation will now go through the Parliamentary process of scrutiny and debate over the coming weeks and months."
The upcoming Renters' Rights Bill, particularly its aim to abolish Section 21 "no-fault" evictions, has elicited mixed reactions from the industry.
There's considerable endorsement for strengthening tenant protections. However, certain landlords worry that the reforms might inadvertently shrink the rental housing market.
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Detractors caution that a dip in available landlords could drive up rents.
Concerns have also emerged about potential pressure on the judicial system, with an uptick in eviction cases anticipated once the new policies take effect.