Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
NRLA Warns Landlord Database Will Cost PRS £327m a Year
England's planned landlord database will cost the private rented sector at least £327 million a year, with tenants ultimately footing the bill, the NRLA has warned. The government will begin rolling out the database in December as part of its Renters' Rights Act.
The National Residential Landlords Association (NRLA) has raised concerns about the cost of the new register, describing it as a "rip off" for landlords. Landlords will be charged to submit much of the same information they already provide through existing compliance processes, the association says.
The database forms part of the government's Renters' Rights Act, which is being introduced to reform the private rented sector in England. The rollout is scheduled to begin in December, though the source does not specify the exact date or the fee structure landlords will face.
For letting agents and inventory clerks, the development signals another layer of administration and cost in an already heavily regulated sector. The NRLA's warning suggests the financial burden will not stop at landlords, with tenants ultimately bearing the cost through higher rents.
The source does not detail how the £327 million annual figure was calculated, nor does it specify the fees landlords will be required to pay. It also does not clarify what information landlords will need to submit or how it differs from existing requirements.
Letting agents and inventory clerks should monitor further announcements from the government and the NRLA as the December rollout approaches. The source does not indicate whether the NRLA plans further action or whether the government has responded to the cost warning.
Source: Property118