Landlords split over PRS Ombudsman proposals

Published on

Landbay has carried out research to find out what landlords think of the proposal in the Renters Reform Bill for a Private Rented Sector Ombudsman.

The scheme, which all landlords will be legally required to join, is to ensure disputes between private renters and landlords are settled impartially, quickly, at a low cost and without going to court.

48% of landlords surveyed were unsure whether the Ombudsman was a good idea and would like more information about it. Meanwhile, 42% agreed the Ombudsman was a good idea and 10% were against it.

Those landlords who were supportive of an Ombudsman scheme were keen to point out that it must be impartial and would welcome timely resolution of disputes rather than lengthy court cases.

Against the creation of a Private Rented Sector Ombudsman were the views that it would always side with the tenant and it was just a money-making scheme.

Responses from those who were unsure included questioning whether an Ombudsman would speed up resolving disputes. Respondents noted that government-run departments are very slow and adding another layer could worsen things.

The Renters Reform Bill had its first reading in the House of Commons in May but is not expected to pass into law until 2024 or even 2025.

Paul Brett, managing director, intermediaries, at Landbay, said: “Our survey found uncertainty around the idea of a Private Rented Sector Ombudsman. On the positive side, it would be good if disputes could be quickly resolved without having to go to court, but there is some scepticism as to how quick this would be. It appears that more information is needed before such as scheme is created.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Kuflink reappoints Narwal to spearhead renewed focus on bridging

Bridging lender Kuflink has announced the return of Ranjit Narwal as head of origination,...

Finova adds equity finance provider to lender panel

Finova has added equity finance provider Pauzible to its Payments lender panel, bringing the...

Prime London property market slows in May as buyers and renters show caution

The prime London property market endured a muted May, with sales volumes and lettings...

Arc & Co. and UTB complete bridge in three weeks for overseas client

Arc & Co. has completed a £770,000 bridging loan for a foreign national borrower...

Clydesdale drops residential and BTL mortgage rates

Clydesdale Bank is set to implement a series of rate reductions across its residential...

Latest opinions

FCA’s mortgage rule changes: it’s time to raise the advice bar, not drop it

The FCA’s move to relax some of the rules around mortgage switching and term...

Tom Bill: Unintended consequences

Former Prime Minister William Pitt the Younger introduced a brick tax in 1784 to...

U.S. Market: lower rates are needed to help unlock the market

When Donald Trump was reelected and took office at the start of this year,...

Mortgage advice in jeopardy as FCA reopens the door to execution-only

Execution only and FCA’s consultation has been playing on my mind. Having navigated decades...

Other news

Kuflink reappoints Narwal to spearhead renewed focus on bridging

Bridging lender Kuflink has announced the return of Ranjit Narwal as head of origination,...

Finova adds equity finance provider to lender panel

Finova has added equity finance provider Pauzible to its Payments lender panel, bringing the...

Prime London property market slows in May as buyers and renters show caution

The prime London property market endured a muted May, with sales volumes and lettings...