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Laws for 2022 - what do landlords need to know?

It’s imperative that landlords are
prepared for the future, but with a raft of new legislation coming for 2022 and
beyond, it can be difficult to do so.

With many changes coming to the rental sector
next year, including possible rental reform, energy initiatives and tax
digitisation schemes, Holland Properties have pinpointed key dates for
landlords to be aware of so they can ensure they’re carrying out their
responsibilities effectively.

Key confirmed dates in 2022

February 2022: Energy price cap
increase set to be announced

In February 2022, the government will
announce how much the energy price cap will increase by. The increase will take
effect on April 1 2022, and this means tenants’ energy bills will also rise.
It’s good for landlords to be aware of this as your tenants may question these
increases, so knowing there is an increase in the price cap will help you
explain to your tenants the reason why.

As a landlord, you can also take a
proactive approach and offer tenants advice on how to reduce their energy
consumption.

April 2022: Covid-19 adjusted Right to Rent
checks

On April 1 2022, the temporary measures
used to carry out Right to Rent checks via video, and by using photocopies and
photos, is also set to end. The government intends to use a digital system for
all checks at some point in the future, following positive feedback about
remote checks, but for now, there is no additional information as to how or
what this will include. These changes only apply to England.

April 2022: Making Tax Digital for VAT

The “Making Tax Digital” scheme, which
is also set to come into effect on April 1 2022, will mean that landlords, among
other professionals, will be required to maintain digital VAT records. Landlords
should use software packages to submit their VAT returns.

Yet to be confirmed legislation dates for
2022

Winter 2021/2022: Confirmation on
increasing Minimum Energy Efficiency Standards

The increase to minimum energy
efficiency standards is pending government feedback from the consultation
stage, but it’s anticipated that, from April 2025, all new tenancies for
private rented properties will legally require an Energy Performance
Certificate (EPC) rating of C or above, an increase from the current
requirement of a band E rating.

From 2028, this increase will apply to
all tenancies. This new legislation applies to England and Wales and would see
a rise in the capped amount that landlords would be required to invest to
achieve the higher ratings, from £3,500 to £10,000.

At some point in 2022: Renters' Reform
Bill white paper

Although there isn’t a specified date,
it’s important for landlords to look out for the Renters’ Reform Bill white paper
– which will be appearing at some point in 2022 - as it’ll directly affect
them. The white paper is set to include the abolition of Section 21, the strengthening
of section 8, and the introduction of lifetime tenant deposits. A mandatory landlord
register has also been raised as a possibility.

The above are just some of the laws
that could be introduced next year as landlords continue to be faced with new
legislation obligations. To keep on top of it all, it’s important to work
closely with an experienced letting agent.

Here at Holland Properties, we have been
an established estate and letting agent since 1999 and can help to manage your
tenancies, allowing you to get the most from your rental properties as a
result. We operate in Docklands and the surrounding areas including Surrey
Quays and Rotherhithe.

For further guidance on any part of
the lettings
process
, please contact us today. You can
also request a free and
instant online valuation
to see how much rent you could be charging in
the current marketplace.

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