Landlords - Please read 👀 January 2024 update !

It's time for new year, new you, and making resolutions that last beyond the first two weeks of January. This month marks what's set to be a monumental year, with a general election likely on the corner, and changes to the private rental sector with the upcoming Renters (Reform) Bill.

Parliament reopens to news of an upcoming general election
Prime Minister Rishi Sunak has suggested that the next general election will be in "the second half of this year", although there has also been speculation it would occur in May 2023. With parliament re-opening in January, it's clear that this year will be very interesting for Westminster.

Consultation for cracking down on rogue landlords
The Mayor of Greater Manchester, Andy Burnham, has announced a consultation to tackle rogue landlords. Its Good Landlord Charter, which aims to come into force in 2024, will introduce a scheme to accredit landlords who meet certain standards. The charter will apply to Manchester landlords for both private and rented social housing.

There's no news yet from other councils across the country. However, it's worth mentioning that the Renters (Reform) Bill, which will likely become law this year in England, will involve a Property Portal to help landlords understand their obligations, and a new Ombudsman for tenants.

Council tax could increase by up to 3%
The government announced £64 billion worth of funding to help councils this year. Although councils will be able to increase council tax by up to 3%, the government stated they "should always be mindful of cost-of-living pressures when making any decisions."

As always, if you have any further questions over what this all means to you and your portfolio, please get in touch.