Government plans to restore fairness to renting as a key measure of Queens Speech, reflecting the strength of the long-term letting market
- 19th December 2019
- Landlord Property News
Combined measures reflect a desire to create a good and fair market where responsible landlords flourish and longstanding tenants are supported
The Conservative Government has today announced that it plans to get rid of ‘no fault’ Section 21 notices, as one of the key measures outlined in the Queen’s Speech. However, landlords will retain their protection against tenants in breach of their obligations, including those who don’t pay rent.
Under the current law, Section 21 enables landlords to instruct their tenants to leave a property without giving them a reason, as long as two months’ notice is given. In this regard, the Government has stated, that they will strengthen the rights of landlords who need to gain possession, so we await the specifics with interest.
Stephen Ludlow, Chairman of ludlowthompson says: “Whilst we await more detail, misconceptions surrounding the withdrawal of section 21 notices could deter new entrants into the Buy to Let market, negatively affecting the rental supply and therefore pushing rents up. Furthermore, during times of economic uncertainty many would be sellers become discretionary landlords, to cover off their mortgages through rent.”
“Even the Organisation for Economic Co-operation and Development (OECD) has come out in support of the expansion of the private rental market, which improves labour mobility and lowers long-term unemployment. It also encourages governments to promote policies designed to increase supply, not potentially harm economic growth with legislation.”
“A further key initiative is the creation of ‘Lifetime Rental Deposits’, which would be transferred between homes as the tenant moves, accepting that many tenants stay on the rental market for longer than in previous generations.”
“These measures combined reflect a desire to stimulate a good and fair market where responsible landlords flourish and longstanding tenants are supported by legislation.”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews
Sadie W via Google reviews:
“I have received an excellent letting service from this company and I would highly recommend them. They have taken a lot of trouble to meet my requirements, been extremely helpful and friendly, and are always available to discuss any issues and work out solutions together.”
Michael R, via Google reviews:
After having searched for a property for four months with no luck, the ludlowthompson Oval team showed us one which fitted our requirements and they were able to help negotiate it into our budget! From agreeing the price, all the way until completion, both were super helpful and were always available to speak on the phone. Would recommend!
“Whilst we await more detail, misconceptions surrounding the withdrawal of section 21 notices could deter new entrants into the Buy to Let market, negatively affecting the rental supply and therefore pushing rents up. "
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