The end of Section 21 – What we know so far
On Wednesday 12th October 2022 PM Lizz Truss confirmed that the government would be pressing ahead with the abolishment of Section 21.
The UK Government published its Fairer Private Rented Sector White Paper back in June 2022 which – along with other proposals – outlined plans to abolish Section 21 evictions.
As of 24th October 2022 – Rishi Sunak now waits to be formally announced as Prime Minister but what do we know so far?
What does this mean for landlords?
Whilst confirmed plans as to how the abolishment of Section 21 have not yet been rolled out, we do anticipate an element of strengthening to the Section 8 notices to strike the balance of assisting a landlord to regain possession whilst ensuring tenants are not unlawfully evicted.
Landlords will still be able to take back possession of their property for reasons such as moving in themselves, selling their property, or if their tenants are in rental arrears.
Other proposals in The White Paper include – but are not limited to – the below:
- A requirement for privately rented homes to meet the Decent Homes Standard by 2030
- Increased Selective Licensing throughout areas with a focus to increase the quality & standard of privately rented homes
- Reformed grounds for possession
- A maximum of one rent review per year
- Introduction of a single ombudsmen
Whilst as of Wednesday 12th October when we had confirmation from the UK Government on the doubling down of section 21, there has been no confirmation on the remainder of the White Paper.
What should landlords do now and are there any top tips?
At this time, landlords need not panic.
Though there may be several upcoming legislative changes and new compliance milestones for properties to achieve, the team at X1 continues to engage in ensuring that your property remains ahead of the curve.
One top tip for our landlords? Reduce risk where you can!
If you’re still yet to consider Rent & Legal Protection taken out against your property, now would be the time to re-think.
Rent & Protection insurance ensures you’re covered if your tenants are unable to pay the rent
If you’d like to find out more information or you’d like a free property health check, get in touch with us today [email protected]