Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Government Warns Landlords Could Leave PRS Over Awaab's Law Costs
The government's own impact assessment on Awaab's Law admits that extending the law to the private rented sector could have a financial impact on landlords and cause some to leave the market. The government has launched a consultation on extending Awaab's Law to the private rented sector (PRS), alongside an impact assessment.
According to Property118, the impact assessment acknowledges that extending Awaab's Law to the PRS could have a financial impact on landlords. It also admits that this could cause some landlords to leave the market.
The government is seeking views as part of the consultation process. No further details of the consultation or the impact assessment were provided in the source material.
For letting agents and inventory clerks, the development is significant because Awaab's Law relates to the handling of hazards in rented homes. The government's own assessment acknowledges the potential for landlords to exit the sector if the law is extended to the PRS.
The source material does not include any specific statistics, percentages, or sums relating to the financial impact. It also does not include any direct quotes from named individuals.
Source: Property118