April News

For some time, the Renters' Rights Bill was at a dead stop. But now, the wheels are back in motion.

In late March, the Government confirmed three committee sessions, where Peers will examine the Bill line by line and also consider amendments. Below, you can discover:

• How the delay between the second reading and the committee stage has impacted implementation timelines
• More about the implications of Rachel Reeves' Spring Statement on housing and the private rented sector
• The top 3 priorities you should focus on during the void period

First up, though, it's time to check in with the rental market...

Rental market performance in March 2025

Here’s what changed in the English rental market last month:

• The average monthly price for a rental property rose 0.3%, from £1,209 in February to £1,213 in March
• March's average rent of £1,213 is up by 4.6% compared to 2024 figures (£1,160)
• Average void duration lengthened from 20 to 21 days

House of Lords committee stage dates announced for Renters' Rights Bill

The Government announced dates for committee sessions, which will be April 22, April 24, and April 28. According to the Government website, it will last for up to eight days "but can go on for longer." This means more dates could be announced depending on how quickly Peers work through the Bill.

The committee stage typically happens around two weeks after the second reading, but in this case, it will be more than two-and-a-half months after. As a result, the Bill is now expected to receive Royal Assent and become law before Parliament's summer recess in July. It won't come into effect for at least two months after that, meaning it’s likely to become a working reality sometime between October and December 2025.

Rest assured, the Abacus Homes team is here to help you with any questions or concerns you have about the Bill. 

Industry experts puzzled by Rachel Reeves' Spring Statement predictions

On March 26, the Government pledged to do its bit to ease the housing crisis. Chancellor Rachel Reeves announced that Labour's reforms are expected to take housebuilding to a 40-year high and that she aims to deliver over 1.3 million homes in the UK over the next five years. She also announced an additional £2 billion for social and affordable homes next year, which will deliver up to 18,000 new homes. However, many aren't sold on these promises. 

William Reeve, CEO of proptech company Goodlord, said: “We’re going too slowly to hit the Government’s target of 1.5m new homes this parliament, which in itself won’t be enough to close the UK’s housing gap."

He continued: "Despite the Government’s narrative about promoting growth and stripping away red tape, where housing is concerned it is doing the opposite. It is inhibiting the market from finding solutions that would reduce the amount of money the Government needs to pour into the sector.

"For example, we should scrap provisions in the Renters' Rights Bill that will suffocate market dynamics, such as bans on ‘over-bidding’ and abolishing fixed term student tenancies. Both reforms are anti-market and will actually make things harder for tenants, not easier."

3 priority tasks to focus on in the void period 

The average void period in England hovers between 18 and 21 days. Although, in an ideal world, this figure would be zero, there are several things you can do make the most this time and set yourself up for long-term success. These include: 

• Making essential upgrades - ticking compliance boxes while a tenant is in your property can be a headache. That's why the void period is the ideal opportunity to perform gas safety and EICR inspections and to resolve plumbing and pest issues. Although the EPC rating system is currently under review, you could also think about making low-risk energy efficiency upgrades during this time, like adding roof and wall cavity insulation.
• Deep cleaning the property - the condition left by the outgoing tenant can significantly impact how quickly a property is re-let. Ensuring your property is spotless before viewings begin gives you a better chance of attracting high-quality tenants. 
• Making superficial improvements - freshening up the interiors, addressing structural issues, and ensuring doors, windows, and appliances are in good working order will help you prevent repetitive call-outs down the line.