It is vital landlords plan for the future, but when legislation changes and updates so frequently, it can be difficult to do so.
At David Harris & Co, we understand the challenges landlords face, and we want to ensure you make informed decisions. We will help you better understand the market, and we will make sure you comply with all regulations.
If you are planning 2022, we have some dates to put in your diary, ensuring you continue to provide the best standard of service to your tenants. If you need any assistance managing your property, please get in touch with David Harris & Co.
February 2022: Energy price cap increase to be announced
An early thing to look out for in 2022 is the Government announcing how much the energy price cap will increase. This is set to be announced in February, and it will come into effect on the 1st of April 2022.
This means tenants energy bills will increase, and as a landlord, you should be aware of this. It might be that your tenant will question these increases, so knowing about the increase in the price cap will ensure you can provide a swift, if unpopular, answer.
It might also be worthwhile being proactive, offering tenants tips on how to better manage their energy consumption.
April 2022: Covid-19 adjusted right to rent checks (England)
On the 1st of April 2022, the temporary measures used to carry out Right to Rent checks via video, and by using photocopies and photos is set to end. The Government intends to implement a digital system for all reviews, but for now, there is no further information as to how or what this will include.
As a landlord, you should be prepared for these changes, and be ready to explain the new method to any potential tenant.
April 2022: Making Tax Digital for VAT (UK)
Landlords should also familiarise themselves with the “Making Tax Digital” scheme, which is set to come into effect on 1st of April 2022. Landlords, like all other relevant professionals, will be required to maintain digital VAT records, and you should use software packages to submit your VAT return.
What changes are coming in the future?
The changes stated above ensures the start of 2022 will feature some different procedures for landlords, but looking further forward, there will be other alterations that landlords should familiarise themselves with.
Winter 2021/2022: Confirmation on increasing Minimum Energy Efficiency Standards (England and Wales)
There has been a lot of talk about changes to the Minimum Energy Efficiency Standards (MEES) but in the next few months, these should be confirmed. It is believed that as of April 2025, new tenancies in rental properties will be required to hold an Electrical Performance Certificate (EPC) rating of C or better. It is also expected that this new standard will apply to all tenancies from 2028.
Early 2022: Renters' Reform Bill white paper (England)
Some of the proposals in this Bill include:
· The abolition of Section 21
· The reinforcement of Section 8
· Lifetime tenant deposits
The Bill might also include a Landlord Register. Some of these changes could have a significant impact on a landlord’s working practices, so it is best to remain in touch with this Bill.
If you have any questions about the housing market, or you need assistance, please contact David Harris & Co today. Call us on 0208 346 9122.
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