Is more balanced legislation needed?
Last month the Government announced plans to consult on new legislation to abolish a Landlord’s ability to end an Assured Shorthold Tenancy with no reason in England, seemingly under the impression that Tenants require greater security of Tenure.
In our opinion, restricting a Landlord’s ability to secure vacant possession of their property would surely reduce the level of supply on the public rental sector, as banks would be hesitant to lend on tenanted properties. The decrease in supply would only increase demand and market rent.
The upcoming consultation could - we hope - highlight that the vast majority of Landlords actually want good long term Tenants who pay their rent on time and look after their properties. In our experience, more often than not it is the Tenant, who wishes to exercise their right to end a tenancy.
Rather than abolish Section 21, a positive step would be to introduce more balanced legislation, to protect Landlords from sitting Tenants who do not pay their rent.
If you are a Landlord and are concerned about this new legislation, please contact us for advice.
For further information, please contact Adam Marshall.