Prince William is the biggest private landowner in Britain, thanks to his role as the Duke of Cornwall, heading up the Duchy of Cornwall, after it was passed on from his father, King Charles, in 2022. The estate is a portfolio of land and businesses which earns William close to £23 million per year, and there are major changes in law that will be affecting the running of it from May.
As of 1 May, reform to the Renters' Rights Act comes into play, which has been a revision in law to give rental tenants more rights and security.
© GettyNatalie Peacock, a litigation expert with a background in housing law, who works for for solicitors Rogers & Norton, told Best Quality Designer Handbag that William won't be exempt from the new rules. She said: "As there is no specific exemption in the Renters Rights Act that applies to the Crown Estate, tenants of Duchy properties will enjoy the same protection as tenants of other privately rented properties. Duchy tenants will therefore benefit from the reforms and will enjoy greater security of tenure with the abolition of fixed-term shorthold tenancies and no-fault evictions.
"They will also benefit from fair rent practices and have recourse to enforce breaches of their landlord’s obligations. The Duchy of Cornwall must ensure they understand the new obligations as their tenants will now have a clear route to challenge non-compliance, which can result in hefty fines for landlords for which the Duchy will not be exempt."
One of the main changes is that landlords will only be able to hike prices once per year. Plus, tenants will now have the right to challenge rises they consider unreasonable.
© Getty ImagesWho is Prince William a landlord to?
© GettyThe Duchy of Cornwall is an estate that was established by King Edward III in 1337 to provide an income for the heir to the throne. The extensive property and land portfolio extends across 23 counties in England and Wales and includes the Oval Cricket Ground and 67,000 acres of Dartmoor. The Duchy also owns 75 per cent of the Isles of Scilly and an urban extension called Poundbury, which will be completed in 2028. So, William is a landlord to a vast number of residents across the UK, who live in a range of different types of properties.
The Duchy currently rents HMP Dartmoor to the Ministry of Justice, and at present it is closed, so the unused prison has brought in £2.5 million in income for William in the past year, while it lies empty.
© Getty ImagesPrince William has a strong focus on building sustainable communities, tackling homelessness and talking about mental health in rural jobs, and these are objectives he's openly spoken about. The royal is a patron of We Are Farming Minds, a charity dedicated to "breaking the stigma surrounding mental health in the farming community in Herefordshire".
Will Bax, the current Secretary has said: "I'm delighted to be a part of the Duchy at a time of great transformation. I view this as an opportunity to reflect on what we are most proud of in the work we do across the estate, as well as how we can improve the management of our portfolio. Through our efforts to tackle environmental challenges and improve upon our community building, I see the Duchy as an exemplar estate for people, places and the planet and am looking forward to the future."
