PayProp continues public affairs push in 2024

PayProp spent 2023 working with politicians and officials across the UK in a jam-packed public affairs programme, to put forward a vision for a fairer and more transparent private rented sector.

Our main focus was the Renters (Reform) Bill. We surveyed the industry after the bill was published and used our findings to brief numerous MPs, sharing property professionals’ concerns and citing data to demonstrate the impact on the private rented sector, especially letting agencies.

In other activities aimed at furthering the interests of the industry, we spoke extensively to HMRC about current anti-money laundering (AML) regulations and how to make them easier for agents to follow.

In 2024, we plan to continue our focus on the Renters (Reform) Bill as it moves from the report stage into the House of Lords, where the Bill is expected to be heavily examined. With a general election slated for May or the Autumn, there will be a tight timeline for the bill to be completed.

Our key focus areas for improving the Bill include specifics around how the property portal will work; ensuring successful redress for the sector; and establishing an effective eviction process through the courts, following the removal of Section 21.

We're also continuing our work on AML regulation nationwide and devolved housing policy issues in Scotland. This includes working with Scottish political stakeholders to raise concerns around the enforcement of current legislation. Some issues we are focusing on are energy performance certificates (EPCs) and countering continued demand for rent controls using our rental market data.

We will keep you involved via surveys, including our Rental Confidence Index, and updates on our public affairs work throughout the year.