REG - Grainger PLC - Statement re Rent Reform Bill

GraingerAnnouncement

18/05/2023 07:00

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RNS Number : 8611Z  Grainger PLC  18 May 2023

18 May 2023

 

Grainger plc

 

Statement re Rent Reform Bill

 

We welcome today's Rent Reform Bill and its principal aim of improving and
raising standards within the UK private rental market. Many of the proposals
in the Bill align to Grainger's business model. Earlier this week in
Parliament, the Housing Minister stated that these reforms are intended to
"support a buoyant private rented sector and continued investment, including
from institutional investors".

 

As a leading, responsible landlord in the Build to Rent sector, Grainger
provides high quality, good value rental homes and excellent service to our
residents across the country, and in doing so, raises market standards and
improves the overall experience for renters, enabling them to put down roots,
join communities and call their rental property their home.

 

The many challenges which face renters today are a result of undersupply and a
fragmented landlord market. A better supplied rental market, with more
professional, long-term and institutional-investor landlords, providing better
quality, mid-market priced homes is what is needed.

 

Today's Bill ensures that rents can still be set in line with the open market.
The Housing Minister has specifically stated that "Nothing in these proposals
will prevent landlords being able to increase rents to market prices." The
abolition of 'no fault' evictions is welcome alongside the commitment to court
reform and strengthening landlord's ability to swiftly manage problem tenants
for the benefit of the wider community. A key focus for Grainger is retaining
our customers, which these proposals align with.

 

As today's Rent Reform Bill goes through the Parliamentary scrutiny process
over the coming year, we look forward to continuing to work with the
Government and policy makers from all parties, to ensure today's proposals
strike the right balance between improving the experience for renters, while
maintaining the attractiveness of the sector to long-term, responsible
investors like Grainger.

 

ENDS

 

For further information, please contact:

 

Grainger plc

Kurt Mueller, Director of Corporate Affairs
                                 +44 (0) 20
7940 9500

Julie Deighton, Director of Communications

 

Camarco, PR

Ginny Pulbrook / Geoffrey Pelham-Lane
                        +44 (0) 20 3757 4992 /
4985

 

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