What’s Changing for Landlords in 2024?
22 July 2024
Navigating the Latest Developments in Rental Property Management
With a new Labour government in place, they have committed in their election manifesto to a major "overhaul" of private rental sector regulations.
For landlords, adapting to change has become routine, and 2024 was anticipated to bring even more adjustments in England, as various housing policies were set to become law.
This anticipated change included the Renters Reform Bill, which was initially promised in the Conservative’s 2019 Election Manifesto but was abandoned after Rishi Sunak dissolved Parliament in preparation for the General Election on July 4.
Now, the Labour government is poised to introduce rental reform through a new Renters’ Rights Bill, while also advancing leasehold reform with a new Leasehold and Commonhold Reform Bill.
In addition to these reform bills, several other changes will impact landlords this year.
Here is a guide to 7 key changes landlords should be aware of in 2024.
7 Changes Landlords Should Track in 2024
- The Labour Government’s New Renters’ Rights Bill
- The Leasehold and Freehold Reform Act 2024 Becomes Law
- The New Leasehold and Commonhold Reform Bill
- The Final Year of Lower Stamp Duty
- Abolition of Pension Lifetime Allowance from April 6, 2024
- Reduction in Tax-Free Allowance for Capital Gains Tax
- New Guidance from the Competition and Markets Authority on Letting?
1. The Labour Government’s New Renters’ Rights Bill
Landlords are facing a period of significant change and uncertainty. The Labour government has pledged to "overhaul the regulation of the private rented sector," as outlined in their manifesto. This will be addressed through a new Renters’ Rights Bill.
This Bill is expected to mirror many aspects of the Renters Reform Bill, which was nearly passed before the general election was called. It will abolish Section 21 and introduce new grounds for possession under Section 8 (specific grounds not yet detailed). It will also allow tenants to contest rent increases, ban “rental bidding wars,” grant tenants an implied right to keep pets, and incorporate other changes from the Renters Reform Bill.
Details will be confirmed once the Renters’ Rights Bill is published. Although Labour promised to abolish Section 21 "immediately," this will not occur instantly. The Bill must pass through both Houses of Parliament before becoming law.
2. The Leasehold and Freehold Reform Act 2024 Becomes Law
The Leasehold and Freehold Reform Bill was fast-tracked through Parliament and received Royal Assent on May 24. While it is now law, it has not yet come into effect, and it will be up to the Labour government to implement it.
For the 38% of landlords owning leasehold properties, this Act fulfills a promise from Boris Johnson’s 2019 Conservative manifesto. It allows leaseholders to extend leases to up to 990 years, abolishes marriage value, and limits ground rent. These measures will simplify and reduce costs for leaseholders wishing to extend leases or purchase the freehold or a share of it once implemented.
However, we are still awaiting the outcome of consultations on ground rent restrictions. Although there was speculation about capping ground rent at £250 annually, the Act does not include such a cap.
3. The New Leasehold and Commonhold Reform Bill
According to the King’s Speech, Labour will introduce the Leasehold and Commonhold Reform Bill to "reform the leasehold system," incorporating remaining Law Commission recommendations related to leasehold enfranchisement and the Right to Manage. It will address unregulated and excessive ground rents and eliminate the disproportionate threat of forfeiture for lease breaches.
The new Bill will focus on commonhold revitalization, abolition of forfeiture, and regulation of ground rents. The government plans to consult on addressing "fleecehold" and strengthening the right to manage using powers from the Leasehold and Freehold Reform Act 2024.
The details on capping ground rents remain vague, reflecting the non-committal language in Labour’s manifesto. The government will consult on the best approach to regulate existing ground rents for leaseholders to avoid unaffordable costs.
4. The Final Year of Lower Stamp Duty
In his mini-budget on September 23, 2022, Chancellor Kwasi Kwarteng announced a “permanent” increase in the residential nil-rate tax threshold from £125,000 to £250,000. However, Jeremy Hunt later introduced a sunset clause, ending this reduction on March 31, 2025. As a result, buyers will revert to paying the full stamp duty amount next year.
Landlords may rush to complete transactions before the lower stamp duty ends, creating a potential surge in activity towards the end of 2024 and early 2025.
The Labour government’s stance on stamp duty remains unclear.
5. Abolition of Pension Lifetime Allowance from April 6, 2024
In a rare piece of good news for investors, the government announced the abolition of the pension lifetime allowance (currently £1,073,100) in the Spring Budget 2023. This change, starting from April 6, 2024, means that pension withdrawals exceeding this amount will no longer incur additional tax charges.
For landlords, this is relevant because many draw up to 25% of their pension tax-free for buy-to-let investments after age 55. While the maximum withdrawal remains £368,0161 676 0084% of the current allowance), there will be no additional tax penalties for exceeding the previous limit.
Although Shadow Chancellor Rachel Reeves indicated last year that Labour might reverse this change, it was not included in Labour’s election manifesto.
6. Reduction in Tax-Free Allowance for Capital Gains Tax
Landlords with properties in their own name will face a reduced capital gains tax allowance from April 6, 2024. The annual exempt amount will decrease from £6,000 to £3,000 for the 0161 676 0084 tax year, increasing the capital gains tax payable by unincorporated landlords.
The Spring Budget 2024 also announced a slight reduction in the top capital gains tax rate from 28% to 24%. However, the reduction in the annual exempt allowance will offset this benefit, giving with one hand and taking away with the other. The rate for basic rate taxpayers remains unchanged at 18%.
7. New Guidance from the Competition and Markets Authority on Letting?
The Competition and Markets Authority (CMA) is investigating the “rented housing sector,” focusing on zero-deposit schemes, fraudulent licenses, and guarantees. The CMA is expected to release a report in spring 2024 and update its 2014 guidance for letting professionals.
The updated guidance aims to clarify rights and obligations for landlords, tenants, and letting agents regarding consumer protection law and might shed light on unfair contract clauses between letting agents and landlords.
The UK rental market has officially entered a new era. With the full implementation of the Renters’ Rights Act in 2026, the traditional "Section 21" or no-fault eviction is a thing of the past. For landlords across Manchester and Salford, this shift has created a wave of uncertainty. At Northmode Properties, we’ve spent the last year preparing our portfolios for this transition. The good news? High-quality property management makes these new regulations manageable. Here is what you need to know to stay compliant and protect your investment in 2026. 1. The Death of Section 21: What Replaces It? Tenancies are now fully periodic from day one. You can no longer end a tenancy without a specific, proven reason. Instead, the government has strengthened Section 8 grounds. The Northmode Strategy: We ensure every tenancy agreement is bulletproof from the start. If you need to sell or move back into your property, we manage the mandatory notice periods (typically 4 months) to ensure you aren't tied up in the revamped housing court system. 2. Mandatory Ombudsman & Redress Schemes In 2026, every private landlord must join the new Private Rented Sector Landlord Ombudsman. Failing to do so can result in heavy fines from Manchester or Salford City Councils. How we help: As your Property Management Specialists, we act as the professional buffer. We handle tenant disputes early, preventing them from ever reaching the Ombudsman stage and protecting your reputation as a landlord. 3. The 'Right to Request' a Pet One of the most talked-about changes in 2026 is the tenant's right to request a pet. Landlords can no longer "unreasonably" refuse. The Opportunity: Rather than seeing this as a risk, we view it as a way to secure long-term, high-quality tenants. We ensure tenants have the mandatory pet insurance required by the new law, protecting your carpets and woodwork while assisting an underserved market of professional pet owners in across Manchester. 4. Decent Homes Standard: The New Audit Reality For the first time, the Decent Homes Standard applies to the private sector. If your Manchester rental doesn't meet specific health and safety criteria, you cannot legally collect rent. Our Compliance Audit: Northmode Properties conducts rigorous pre-tenancy inspections to ensure your property meets the 2026 energy and safety standards that the council's enforcement teams are looking for. Why Proactive Management is Your Best Asset 2026 isn't the year for "DIY" landlording. The risks of non-compliance, ranging from rent repayment orders to fines are simply too high. By switching to Northmode Properties, you aren't just hiring a letting agent; you’re hiring a compliance shield. We take the stress of the Renters' Rights Act off your plate so you can focus on your yield, not the legislation. Reach out today, our team will be happy to guide you through the changes and recommend the most suitable service for your property. Call us: 0161 676 0084 Email: enquiries@northmodeproperties.co.uk
Specialist property management for overseas and non-resident landlords. Northmode Properties provides expert NRL tax compliance and asset management in Manchester.
Managing a single rental is a job; managing a multi-unit portfolio in 2026 is a full-scale operation. With the introduction of the Private Rented Sector Database and the expansion of Selective Licensing across Greater Manchester, the "DIY" approach to a large portfolio is no longer just stressful it’s a legal liability. At Northmode Properties, we specialise in transitioning landlords from "accidental owners" to professional investors. Here is our 2026 blueprint for managing and scaling a multi-property portfolio. 1. Centralising Compliance in a "Periodic" Market With the 2026 abolition of fixed-term tenancies, your portfolio is now 100% periodic. For a landlord with 10 properties, that means 10 different notice periods to track. We use advanced management software to provide a single dashboard for your entire portfolio. We track gas safety, EICRs, and the new Decent Homes Standard across every unit simultaneously, ensuring you never miss a deadline that could lead to a Rent Repayment Order. 2. Navigating the Manchester "Licensing Patchwork" From Salford’s specific licensing zones to Manchester City Council’s latest schemes, the rules change street by street. We provide hyper-local expertise. We know exactly which properties in your portfolio require a license today and which ones will need an audit under the 2026 standards. We handle the paperwork, so you just collect the yield. 3. Tax Efficiency & Incorporation In 2026, the way you hold your properties (Individual vs. Limited Company) is more critical than ever due to shifting tax brackets and interest rate fluctuations. While we aren't tax advisors, we work alongside your accountants to ensure your management structure supports your corporate tax strategy. High-growth portfolios across Manchester in Ancoats and The Quays require professional oversight to remain profitable. 4. Risk Mitigation: The "Professional Buffer" The new Landlord Ombudsman means tenants have a direct line to complain about maintenance delays. For a multi-property landlord, one bad boiler in one flat can trigger an audit of your entire portfolio. Northmode acts as your legal shield. Our 24/7 maintenance response ensures that small issues never escalate into Ombudsman complaints, protecting your "Fit and Proper Person" status. From Landlord to Investor The ultimate goal of a multi-property portfolio is passive income. If you are spending your weekends chasing rent or checking smoke Alarms, you aren't an investor, you’re an employee of your own properties. To discuss a comprehensive audit of your current portfolio or to review our specialist management frameworks, please contact our senior team for a confidential consultation. T: 0161 676 0084 E: enquiries@northmodeproperties.co.uk
Discover how professional portfolio management helps landlords reduce risk, stay compliant, and improve returns across multiple rental properties.
Learn what repairs UK landlords are legally responsible for, including plumbing, heating, and structural safety. Stay compliant and avoid disrepair claims.
New AML rules for UK landlords start May 2025. Learn what compliance checks are required and how to avoid legal penalties.
Learn what commonhold means, how it differs from leasehold, and what it could mean for future flat owners and landlords in England and Wales
Discover how landlords can reduce property maintenance costs on buy-to-let homes while protecting rental income and boosting yield.
Struggling with poor communication, high service charges, or lack of transparency from your current managing agent? Here’s how leaseholders can take control — from understanding your rights to switching to Manchester's trusted block management provider.
Managing a property portfolio comes with great potential for high returns, but it also brings challenges such as maintenance coordination, tenant management, and financial planning. Portfolio landlords must adopt a strategic approach to ensure their investments are profitable, compliant, and stress-free. This guide explores the key principles of property portfolio management, offering insights on how to maximise rental income, streamline operations, and minimise risks. What is Property Portfolio Management? Property portfolio management refers to the strategic oversight of multiple investment properties. Unlike single-property landlords, portfolio landlords must balance different financial, operational, and regulatory considerations across multiple assets. A well-managed portfolio leads to: Consistent rental income and occupancy rates. Reduced maintenance costs through proactive planning. Legal compliance across all properties. Efficient handling of tenant relations. Key Strategies for Successful Property Portfolio Management 1. Establish a Clear Investment Strategy Before expanding a portfolio, landlords should define their investment goals: Buy-to-let income vs. capital growth – Do you prioritise monthly yield or long-term appreciation? Geographical focus – Concentrate on high-demand areas like Manchester and the Northwest. Property type – Focus on HMOs, single-lets, blocks, or a blend? Having a clear strategy helps landlords make informed purchasing and management decisions. 2. Professional Property Management: When to Delegate Self-managing a large portfolio can be overwhelming. Partnering with a property management company like Northmode Properties allows landlords to: Handle tenant communication, rent collection, and compliance. Reduce void periods with efficient tenant transitions. Access vetted contractors for cost-effective maintenance. A professional team can free up your time while ensuring high occupancy and compliance. 3. Financial Planning and Cash Flow Management Strong financial management is vital. Keep close watch on: Rental Yield & ROI – Make sure income exceeds expenses. Service Charges & Maintenance Budgets – Anticipate ongoing and long-term costs. Refinancing Options – Use equity to fund further growth. Tax Planning – Consider limited company structures to optimise tax. 4. Compliance and Risk Management Managing multiple properties means managing multiple legal obligations. Ensure: EPC and energy efficiency compliance Fire safety and gas certificates Deposit protection schemes HMO licensing (if applicable) Staying compliant protects against penalties, disputes, and reputational harm. 5. Scaling the Portfolio: Growth Strategies Looking to grow? Consider: Targeting high-yield areas and off-market opportunities Using remortgaging to release capital Forming joint ventures for larger deals Diversifying with HMOs, student lets, or mixed-use buildings Why Work with Northmode Properties At Northmode Properties, we specialise in helping portfolio landlords manage, grow, and protect their investments. We offer: Block and property management under one roof Lettings and tenant support tailored for portfolio landlords Maintenance coordination across multiple units Transparent financial reporting and strategic insights Ready to Take Your Portfolio to the Next Level? If you’re a portfolio landlord in Manchester or the Northwest, Northmode Properties is here to help you scale efficiently and sustainably. Contact us today to learn how we can support your growth and streamline your operations.