Grainger Plc (LSE:GRI), the UK's largest private rental landlord, has welcomed the government's Renters’ Rights Bill, which has been passed by the House of Commons and is expected to be passed into law next year.
Key provisions in the Bill, which is due to receive royal assent by the end of 2025, include the abolition of no-fault evictions, the introduction of open market annual rent reviews, and support for pet-friendly policies.
The FTSE 250-listed group noted that powers to evict tenants for non-payment or anti-social behaviour will remain.
Grainger chief executive Helen Gordon said the government’s confirmation that rent levels will remain aligned to the open market and the exclusion of rent controls "is providing stability for investors and landlords, while ensuring reforms deliver stronger rights and greater confidence for renters".
She said: "We welcome the passage of the Renters' Rights Bill, which we believe will raise standards across the private rented sector while ensuring the market remains attractive to long-term, responsible investors."
Gordon also said the firm was ready to implement the reforms ahead of schedule if required: "As the Bill moves to Royal Assent, we are ready to implement these changes with immediate effect if required, although implementation is not expected until 2026."