What the Queen's speech means for landlords and tenants.
This week the Queen’s speech announced several changes affecting the real estate industry. First of all, the Renters Reform Bill, introduced a few years ago, was reconfirmed, with Section 21 Evictions to be scrapped. According to the government this will provide security for tenants in the private rented sector and empower them to challenge poor practice and unfair rent increases without fear of retaliatory eviction.
On the other hand, landlords’ rights of possession will also be enhanced with the introduction of new and stronger grounds for repeated incidences of rent arrears and reduced notice periods for anti-social behaviour. As a result, this will ensure that landlords can regain their property more efficiently when needed.
In addition to these changes, a new ombudsman for private landlords will be introduced. This is mainly to resolve disputes without needing to go to court. This, combined with the introduction of a new property portal should help with providing landlords with a full understanding of their obligations. Furthermore the property portal can aid local authorities and hold both landlords and tenants accountable.
At Benson Bunch we already work with Property Portals, which gives an overview to landlords on their accounts, tenancies and outstanding queries.
Final update and change to the rental market is the Leasehold Reform Act 2022, which will come into force on the 30th of June. This will stop landlords requiring ground rent for new long residential leaves. Furthermore, the act means that new leasehold houses will be banned which ensures that all new houses built from the 30th of June will have to be freehold.
If you have any questions on these developments and changes, please do not hesitate to contact us so our lettings team can assist you.
https://www.propertymark.co.uk/resource/the-queens-speech-2021.html
BB New Car