Renters Reform Bill – Don’t panic!
The much-anticipated Renters (Reform) Bill was finally put to Parliament last week. As expected, we have received a number of phone calls from landlords with various questions. With the help of Propertymark briefings we have put together an overview of the Bill which we hope covers the changes and answers any queries.
The flagship change is the end of Assured Shorthold Tenancies. At Naylor Powell we currently use these for most of our tenancies. They give an assured timescale of usually 6 or 12 months which can then be ended with a section 21 notice. The Government have been under considerable pressure from organisations such as Shelter to remove the Section 21 ‘non fault eviction’. The Renters Reform Bill proposes that there can be no end date on a tenancy and therefore, a tenancy will be open ended. The tenancy can only be brought to an end with a tenant giving two months’ notice, at any time. If a landlord wishes to end a tenancy, then a section 8 notice will be required which we hope will have strengthened grounds.
How will this work for our Naylor Powell landlords?
Firstly, can we assure you that if a tenant is not adhering to the terms of their tenancy they can still be evicted. If for example a tenant does not pay their rent or it is proven, they are breaking the law in the property, then a section 8 notice can be issued which can involve going to court. This is much the same as now.
As most tenancies we deal with roll into periodic tenancies after the assured minimum term and, only come to an end at the tenants’ request this will not affect how many landlords conduct their business. However, landlords wishing to rent their property for a limited time only as they wish to sell the property or return to it themselves may need to consider their options well in advance. We will wait to see further detail of the Bill but, it has been highlighted by the industry that landlords wishing to reasonably return to their property or sell it must have the right to be able to do so without excessive costs or time.
Our Lettings and Property Management teams at Naylor Powell work hard to ensure they are fully up to date with the ever-changing regulations. Our landlords can be rest assured that their properties and tenants are well looked after, and their investment is in safe hands.
If you have a property to let or you would like to speak to a member of the team, then please call James Birt on 01452 504813 to organise a free property appraisal.
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