12th Sep 2024 12:36
(Alliance News) - Grainger PLC on Thursday welcomed the UK government's Renters' Rights bill that was presented in parliament on Wednesday, highlighting that the bill does not include rent controls.
The Newcastle upon Tyne-based residential landlord said it has supported better rental standards for renters for many years.
Grainger emphasised it has long supported the abolition of Section 21 "No Fault" evictions. It expects the new legislation to come into effect by mid-2025.
The company added: "While the Renters' Rights bill aims to raise standards in the private rented sector, it does not include rent controls, a mechanism that has proven detrimental to renters when implemented elsewhere. The draft legislation will now go through the Parliamentary process of scrutiny and debate over the coming weeks and months."
Grainger shares were 1.0% higher at 236.75 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
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