Reform Bill must make independent inventories compulsory - call

A key figure in the inventory sector says the Renters’ Reform Bill - scheduled for publication this week - must make independent inventories compulsory in every tenancy agreement.

The chair of the Association of Independent Inventory Clerks, Daniel Evans, wants the compulsory use imposed on landlords and letting agents alike.

He says: “Inventory companies have the capability of being the only truly independent agencies operating throughout the lettings process.

“It is clear the Government wants to ‘professionalise’ the private rental sector and this is an obvious place to start. Ministers should take this opportunity to include a clause which makes independent inventory mandatory.

“Then, in the event of a dispute, the inventory will be valuable evidence to offer to the deposit protection scheme provider.

“But if this process is going to have credibility for the tenant as well as the landlord, that inventory must be curated by an independent agency.

“This increase in transparency is not just about tenants. Landlords, too, can benefit from utilising the services of a professional independent inventory clerk to improve the service for everyone.”

The Bill is expected to include the abolition of Section 21 evictions; the introduction of a Decent Homes Standard for the PRS; a Government-appointed Ombudsman; and Restrictions on landlords’ ability to put up rents more than once a year.

Evans’ call comes after new data suggests the number of landlords planning to sell rented properties has reached its highest rate on record.

Polling by research consultancy BVA-BDRC found that in Q1 2023, 33 per cent of private landlords in England and Wales said they planned to cut the number of properties they rent out. 

This is an all-time high recorded by BVA-BDRC and is up from the 20 per cent who said they planned to cut the number of properties they let in Q1 2022.   

This comes despite demand being at a record high with landlords blaming taxation policy, high interest rates and legislation for their withdrawal from the market. It is estimated that 65,000 properties were offloaded by landlords in the first quarter of 2023.

We're excited to announce that we're working on building a shiny new website for readers of Landlord Today! As part of this process, commenting on articles will be temporarily disabled. We look forward to sharing our new and improved Landlord Today website with you shortly!