Private Rented Sector (PRS) meaning

In this issue Shipping finance Real estate finance Sustainable finance Debt capital markets Derivatives Structured products and securitisation Sanctions Daily and weekly news alerts New and updated content Useful information Shipping finance The armed conflict raging in Iran, together with the virtual halt of commercial movements through the Strait of Hormuz since early March 2026, has triggered an interruption to global shipping and energy trade with no clear precedent in the post-war period. This narrow corridor is a vital bottleneck in energy supply chains: around one-fifth of the world’s daily petroleum demand, and a similar share of traded liquefied natural gas, typically passes through it. Leading regional producers-including QatarEnergy, Kuwait Petroleum Corporation, Shell and Bapco-have already declared force majeure against their contract parties. The ripple effect is worldwide, leaving energy and commodities markets materially affected. See News Analysis: In Dire Straits-disruption, force majeure and the English Law disputes arising from the Iran conflict. ...

In this issue: Key developments and horizon scanning Residential property Statutory compliance Environment, energy and buildings Property development Easements, rights and covenants Property taxes Property in Scotland LexTalk®Property: a Lexis®Nexis community Additional property updates this week Daily and weekly news alerts Trackers Key developments and horizon scanning Committee calls for Commonhold and Leasehold Reform Bill reforms to be brought forward On 27 May 2026, after reviewing the draft Commonhold and Leasehold Reform Bill in pre-legislative scrutiny, the Housing, Communities and Local Government Committee issued its findings. It urges ministers to introduce a suite of amendments to the final legislation so it genuinely caps ground rents, strengthens homeowner control and stamps out excessive charges, and to go further by establishing an independent regulator for managing agents. The paper backs the proposed £250 per annum ceiling on ground rent for current leaseholders, yet presses government to hasten implementation to late 2027, and questions...

In this issue: Key developments and horizon scanning Residential property Environment, energy and buildings Property development Leasing property Property Insolvency Property in Wales Property in Scotland Property taxes Additional property updates this week Daily and weekly news alerts New and updated content Trackers New Q&As Key developments and horizon scanning Right to manage provisions of LFRA 2024 in force 3 March The Leasehold and Freehold Reform Act 2024 (Commencement No 3) Regulations 2025, SI 2025/131, activate specified elements of the Leasehold and Freehold Reform Act 2024 (LFRA 2024) on 3 March 2025. Under the Commonhold and Leasehold Reform Act 2002 (CLRA 2002), leaseholders in blocks of flats can collectively assume control of building management from the landlord without buying the freehold. One hurdle has been the cap on commercial floorspace: previously, the building could contain no more than 25% non-residential use. Section 49 of the LFRA 2024 raises that...

FORTHCOMING CHANGE : The Renters’ Rights Act 2025 obtained Royal Assent on 27 October 2025. For advice on how the Act affects residential tenancies in England, refer to Practice Note: Renters’ Rights Act 2025—key provisions. This Practice Note examines the minimum energy efficiency standards (MEES) for domestic private rented property (DPR) set out in the Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 (MEES Regs 2015), SI 2015/962. Its emphasis is the bar on granting, or continuing, tenancies of domestic private rented homes that fall below the required standard. It forms part of our suite of Practice Notes on MEES. For context and a summary of how MEES evolved, see Practice Note: Minimum energy efficiency standards (MEES) in the private rented sector—snapshot...

This Practice Note outlines guidance on the standards expected of accommodation provided by a local housing authority (LHA) when fulfilling its housing duty under Part VII of the Housing Act 1996 (HA 1996), including how suitability is evaluated. For details on how an applicant might challenge suitability, see Practice Note: Homelessness review and appeal. Statutory guidance was published on 22 February 2018 to align with the commencement of the Homelessness Reduction Act 2017 on 3 April 2018, and is updated on a regular basis. Throughout this Practice Note, that guidance is termed the ‘Homelessness code of guidance for local authorities’ (the Code). Discharging the housing duty All accommodation arranged by an LHA in performance of its housing duties under HA 1996, Pt VII must be suitable. This includes accommodation obtained in exercise of an LHA’s interim powers and duties, such as the duty in HA 1996, s 188(1) to secure accommodation pending a final determination of the duty owed to a potentially homeless applicant, and the relief duty...