New Rental Legislation Coming

Discuss any aspect of Property - Renting, Buying, Selling, Investing, Developing, Building

New Rental Legislation Coming

Postby Nick » Tue Feb 18, 2014 11:44 am

The Government is seeking feedback on it's planned new Legislation, the Legislation which is being prepared will:

  • Publish a new code of practice setting standards for the management of property in the private rented sector, with a view to making it statutory to provide greater confidence for tenants in what they can expect.
  • Publish a tenant’s charter to help tenants understand what they should expect from their rental deal, and how they can take action if they are the victim of hidden fees or poor standards of accommodation.
  • Legislate a new tenancy agreement, which landlords can use to offer longer tenancies of 3 years or more, which will, provide extra security and stability for families.
  • Produce extra guidance for local councils on how to protect tenants from illegal eviction, how to push for harsher penalties before magistrates for housing offences where these have a real impact on peoples’ lives, and to plan for new private rented developments in the future, including on their own land.
  • A mortgage lenders summit will consider how lenders can make it easier for landlords to offer longer tenancies that benefit families.
  • The government will review the process by which tenants can raise concerns about the standard of their private rented property and the response they should expect from their council in enforcing standards of safety and hygiene
  • The review will also consider requiring landlords to repay rent where a property is found to have serious hazards. This could include allowing councils to recoup housing benefit so that taxpayers’ money is not used to support landlords who provide sub-standard property.

Time for legislation to restore a tenant's right to a long term home?
Image
Image
User avatar
Nick
Site Admin
 
Posts: 19411
Joined: Tue Apr 07, 2009 4:35 pm
Location: London

Re: New Rental Legislation Coming

Postby Steve Griff » Tue Feb 18, 2014 12:40 pm

I agree with this in principal, but tying landlords to three year obligation and tenants ableto give one months notice as has been mentioned is ludicrous.

I agree with not wasting public funds, but with some malicious tenants, they could easily cause constant issues making leaks etc and the ramifications would be,huge!
Steve Griff
 
Posts: 2152
Joined: Mon Oct 31, 2011 2:36 pm
Location: Caerphilly

Re: New Rental Legislation Coming

Postby joanna caroline » Tue Feb 18, 2014 5:34 pm

Longer leases are well overdue. Insecurity is not good for the psychological health of the nation. I'm glad this is being discussed.
User avatar
joanna caroline
 
Posts: 686
Joined: Thu Apr 08, 2010 3:07 pm

Re: New Rental Legislation Coming

Postby Nick » Tue Feb 18, 2014 9:30 pm

Joanna,

Firstly I'll just start by acknowledging that I am not typical of most Landlords and the PRS - my market in London is for young professionals and whilst I do have tenants who stay for years (currently my oldest tenant has been with me 25 years) they are in the minority, and most don't want to commit for even as long as 6 months, and generally move on after 1 or 2 years. However I can see that most tenants, and the future of renting, is for tenancies of many years.

The thing is the Govt may be knocking at a locked door. They need to start with the lenders - there was hardly any PRS until the AST, and ARLA created the BTL. BTL has gone into the language, but people forget that it was a product specifically born from the 1988 Housing Act, and only available to Landlords renting through an ARLA Agent. If they are going to create longer tenancies, and create a mechanism that means that Landlords lose the right to repossess a property, they are going to need to start by clearing this change with lenders, or finance for Landlords will disappear overnight.
Image
Image
User avatar
Nick
Site Admin
 
Posts: 19411
Joined: Tue Apr 07, 2009 4:35 pm
Location: London

Re: New Rental Legislation Coming

Postby joanna caroline » Wed Feb 19, 2014 4:29 am

I believe they are already in talks with lenders about this. If the will is there, there will be a way to do it. Lenders can be protected too. Its all in the negotiations.
User avatar
joanna caroline
 
Posts: 686
Joined: Thu Apr 08, 2010 3:07 pm


Return to Property

Who is online

Users browsing this forum: No registered users and 1 guest

cron