The property sector is finally seeing glimpses of the much-anticipated Renters’ Rights Bill and Stamp Duty Land Tax (SDLT) updates. With landlords and agents across the UK gearing up for a busy year of policy changes and tax updates, these developments open the door for agents to enhance their services, strengthen landlord relationships, and grow their businesses.
In this blog, we asked our expert team of property professionals to share insight on what agents can do to stay ahead of the curve.
1. Renters’ Rights Bill
The Renters’ Rights Bill, introduced in September 2024, will bring industry-wide reforms to the private rented sector (PRS) when it takes full effect in Spring 2025.
The most notable change is the end of Section 21 ‘no-fault’ evictions. This means landlords will no longer be able to regain possession of their properties with two months’ notice. Fixed-term tenancies will be replaced with rolling, periodic agreements, giving tenants more security.
While these changes aim to improve tenant rights, landlords are worried about managing problematic tenants. This is where letting agents can step in to provide support:
Tenant Screening Processes: With Section 21 abolished, revisit your screening process and vetting protocols. Use advanced credit, employment, and reference checks to ensure tenants are financially stable and responsible.
Upskill Dispute Resolution: Train staff in conflict resolution techniques to mediate disagreements quickly and effectively. Offer landlords rent protection insurance and use automation to prevent rent arrears or lengthy evictions.
Invest in Your Tech Stack:
“Automation tools can handle routine tasks like annual rent increases. Veco Plus’ Workflow feature helps agents complete tasks on time and stay compliant.”
- Alice Mortimer, Business Development Manager
Veco Plus automates over 120 business functions to streamline property management. Learn more about how automation can scale your agency here.
2. Stamp Duty Land Tax (SDLT) Updates
Major changes to Stamp Duty Land Tax (SDLT) are coming into effect on 1st April 2025. With the average property transaction taking around five months to complete, the Association of Mortgage Intermediaries (AMI) is warning buyers that failing to finalise their mortgage application by the end of October could result in higher SDLT costs.
Here is how SDLT changes can affect buyers:
Main Residences
Property Selling Price | Current SDLT Rate | SDLT Rate (1st April, 2025) |
Up to £125,000 | 0% | 0% |
£125,001 to £250,000 | 0% | 2% |
£250,001 to £925,000 | 5% | 5% |
£925,001 to £1.5 million | 10% | 10% |
Over £1.5 million | 12% | 12% |
First-Time Buyers
Property Selling Price | Current SDLT Rate | SDLT Rate (1st April, 2025) |
Up to £300,000 | 0% | 0% |
£300,001 to £425,000 | 0% | 5% |
£425,001 to £500,000 | 5% | 5% |
£500,001 to £625,000 | 5% | 5% |
If you’re a first-time buyer purchasing a £400,000 property:
Before 1st April, 2025: You pay no SDLT.
From 1st April, 2025: You’ll owe £5,000 in SDLT.
Additional Property Purchases
Property Selling Price | Current SDLT Rate | SDLT Rate (1st April, 2025) |
Up to £125,000 | 5% | 5% |
£125,001 to £250,000 | 5% | 7% |
£250,001 to £925,000 | 10% | 10% |
£925,001 to £1.5 million | 15% | 15% |
More than £1.5 million | 17% | 17% |
What These Changes Mean for Estate Agents
The SDLT changes have triggered a rush among buyers who are keen to complete transactions before 1st April, 2025. This gives estate agents a chance to help their clients make the most out of this window of opportunity:
Consultations: Offer consultations to potential buyers, advising them on the financial implications of completing purchases after the deadline.
Portfolio Rebalancing: For landlords with multiple properties, provide advice on portfolio restructuring. Highlight potential savings by completing purchases or sales before the deadline.
Embrace Technology: Advanced CRM platforms like Veco Plus allow agents to track deadlines with automation and complete transactions quicker on one centralised platform.
“Agents must ensure communication between various parties is smooth and quick. Integrations and apps that allow information to be obtained and shared efficiently will be game-changers.”
- Elena Cook, Support and Delivery Team Leader
3. More Landlords Instructing Letting Agents
With rising complexities in legislation, more landlords are expected to seek professional help. For letting agents, this is a chance to showcase expertise and build long-term relationships:
“Engaging with trade bodies like The National Association of Estate Agents (NAEA) and Propertymark (PM) are a good place to start, but also make the time to attend industry-led seminars and events to remain fully compliant.”
- Victoria Leger, Executive Assistant to the Directors
“If your software is not up to scratch, invest in a product that takes away the strain.
Using a market-leading web-based management system to help agents with workflows, reminders, automation, and documents will be an absolute must for 2025.”
- Victoria Leger, Executive Assistant to the Directors
"Moving from a server-based to a SaaS model with multiple integrations and user-friendly functionality is a game changer for the property market.
By using advanced CRM systems, agents can simplify processes and deliver a better experience for both landlords and tenants."
- Elena Cook, Support and Delivery Team Leader
Platforms like Veco Plus allow agents to showcase property portfolios, access inspection notes on the go, and provide real-time updates to landlords, all from a mobile device. For more information on web-based CRM systems, read our guide here.
Alternatively, contact our team today at contact@veco.software to learn more about how Veco Plus can help grow your agency.
