Marc von Grundherr of Benham and Reeves accuses the Government of risking doomsday in the private rental market with the Renters’ Rights Bill.

Leading letting agent Marc von Grundherr has warned that the Renters’ Rights Bill will bring “doomsday” to the private rental market and be bad for renters, landlords and agents.

Speaking on the day the bill received its second reading in Parliament, von Grundherr said the bill will lead to less landlords and rental homes, as well as higher rents.

Doomsday

“Today’s second reading brings ever closer to a potential rental market Doomsday and should the Government persist with yet another ill devised legislative overhaul, the result will be fewer landlords, less homes for renters, higher rents and an even tougher time for tenants,” says von Grundherr, Director at Benham and Reeves.

And Sam Reynolds of Zero Deposit joined in the criticism, accusing the Government of “taking a head in the sand approach” to the wider effects of the Bill.

The Government has so far taken a head in the sand approach.”
“Whilst improvements to tenant welfare are positive in theory, it’s clear that the Government has so far taken a head in the sand approach to the bigger picture, with little consideration afforded to the nation’s landlords and the consequence of deterring them from the sector,” he says.

“In doing so, they could well cause more harm than good when it comes to rental market affordability”, he adds.

Landlords sidelined

Also, Siân Hemming-Metcalfe, Operations Director at inspection proptech firm Inventory Base, says the “tenant-first focus” of the bill could destabilise the rental market.

“By sidelining landlords in such sweeping reforms, we risk a shrinking rental market, with fewer available properties and higher rents.

“This imbalance will ultimately hurt tenants just as much, if not more, in the long run, and a sustainable approach requires meeting the needs of both landlords and tenants.”

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