What is the King's speech?

The Labour Party has an ambitious agenda for their time in parliament, with around 35 bills mentioned in the King's Speech 2024. As a landlord, it's crucial to be aware of the key outcomes that may impact you. Let's take a closer look at the most significant bills:

• The Renter's Rights Bill
• English Devolution Bill
• A draft of the Leasehold and Commonhold Reform Bill
• Planning and Infrastructure Bill

The Renters' Rights Bill

The Renters' Rights Bill is Labour's response to the Conservative's Renters' (Reform) Bill, which did not achieve Royal Assent before the end of the Conservative government. This bill aims to provide a platform for those aspiring to become homeowners and seeks to prevent tenants from being taken advantage of by landlords, ultimately transforming the private rental sector in England.

The bill may include policies such as:

• Abolishing Section 21 while extending possession grounds for landlords to reclaim their properties when necessary
• Strengthening tenants' rights and protections by empowering them to challenge rent increases and end bidding wars
• Requiring landlords to consider and not unreasonably refuse tenants having pets in their property, with the option to request insurance to cover potential damage
• Implementing a Decent Homes Standard for the private rental sector
• Applying 'Awaab's Law' to the sector, establishing clear legal expectations and timeframes for landlords
• Creating an online private rented sector database to centrally collate information for landlords, tenants, and councils
• Supporting quicker and cheaper dispute resolution through the introduction of a new ombudsman
• Making it illegal for landlords to discriminate against tenants who receive benefits or have children
• Strengthening local councils' enforcement powers to make it easier to identify rogue landlords

English Devolution Bill

The English Devolution Bill aims to provide new powers to local mayors and authorities, supporting local growth plans that bring economic benefits to communities. This bill focuses on the government's plans to reinforce growth and stability within the UK by moving power out of Westminster and back to those who know their areas best.

The new government seeks to empower local leaders to drive growth in their communities by:

• Creating a more ambitious standardised devolution framework in legislation, giving local leaders more power over strategic planning, local transport networks, and improving living standards
• Making delegation the default setting, allowing local leaders to request additional powers according to a framework
• Making it easier to provide devolved powers quickly to more areas by creating new Combined and Combined County Authorities
• Improving and unblocking local decision-making through more effective governance agreements that mayors and Combined Authorities can deliver for their areas
• Empowering local communities with a new 'right to buy' for valued community assets such as empty shops, pubs, and community spaces to restore high streets

A draft of the Leasehold and Commonhold Reform Bill

Although the Leasehold and Freehold Reform Bill was passed on the final day of the Conservative government, there are still several question marks on how it will be actioned and implemented. The new government plans to publish draft legislation that will aim to provide homeowners with greater rights and powers over their homes.

The party intends to further reform leaseholds and freeholds while also implementing the Leasehold and Freehold Reform Act 2024. This includes:

• Reinvigorating commonholds
• Tackling existing ground rents
• Enacting remaining Law Commission recommendations

Planning and Infrastructure Bill

The King's Speech and Labour manifesto emphasised the theme of growing the United Kingdom, and the Planning and Infrastructure Bill further showcased this. The bill aims to make improvements to the planning system at a local level while accelerating housebuilding and infrastructure.

The government plans to achieve this through:

• Improving local planning decision-making by modernising planning committees
• Increasing local planning authorities' capacities
• Streamlining the delivery process for critical infrastructure

As a landlord, it's essential to stay informed about these upcoming changes and how they may impact your buy-to-let investment. By understanding the government's priorities and the potential implications of these bills, you can better prepare for the future and make informed decisions regarding your rental properties.

This was accurate at the time of writing in July 2024.

Get in touch

We'll continue to provide updates as the Renters' Rights Bill progresses through Parliament and ensure you remain compliant via our Renters' Rights Bill Hub.

If you want advice regarding how these priorities may affect your buy-to-let investment, contact our local lettings experts below.