In this episode, Nick breaks down the Decent Home Standard, a crucial aspect of the upcoming Renters' Rights Bill set to impact landlords significantly. He explains the standard's aim to ensure that both social and private rented housing meet minimum safety and quality criteria, including the elimination of damp and mold. Nick outlines the four key criteria that define a decent home, such as the statutory minimum standard for housing, reasonable state of repair, modern facilities, and thermal comfort.
KEY TAKEAWAYS
The Decent Home Standard is part of the Renters' Rights Bill, aimed at ensuring both social and private rented housing meet minimum safety and quality criteria. It includes provisions to eliminate damp and mould, which have been linked to serious health issues.
The proposed implementation dates for the new standards in the private rented sector are set for either 2035 or 2037, allowing landlords a long lead-up time to comply with the new regulations.
The standard evaluates properties based on the HHSRS, which assesses 29 specific hazards. A home fails if it contains any Category 1 hazards, which pose an immediate risk to health and safety.
Awab's Law, named after a child who died due to mould exposure, mandates that landlords address damp and mould hazards within specific timeframes. The law will be implemented in phases, with the first phase focusing on urgent repairs and the second phase expanding to cover a broader range of hazards.
BEST MOMENTS
"The new standard will be common to both social and private rented housing ensuring tenants have the same minimum level of safety and quality."
"A home fails this part of the standard if it contains any category one hazards. These are serious and immediate risks to a person's health and safety."
"It's a legal requirement based on the Housing Health and Safety Rating System, a risk-based assessment used by local authorities in England and Wales."
"No one wants to be in that situation where a young child loses life because of damp and mould."
"The timeline for the implementation of this revised decent home standards... is really complex and phased."
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HOST BIO
Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations.
He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems.
Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business
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