Don’t resort to desperate measures
We know that the Tenant Fee Ban has cost letting agents dearly, with an estimated loss of £314.5 million paid to letting agents by tenants*. But desperate times do not always call for desperate measures …
Outgoing Prime Minister Theresa May is determined to have the last word in lettings, with a legacy that sees the scrapping of Section 21 notices. May used her recent speech at a housing conference in Manchester to confirm that a consultation on removing Section 21 of the 1988 Housing Act would be published shortly, with a view to introducing new legislation later this year. It is thought an outright ban could come as early as spring 2020.
As we have written about recently in our blog, landlords are already way behind the legislation curve, failing to keep up with the latest avalanche of new rules and regulations. In fact, many are not even aware of impending changes that could have a catastrophic effect on their future buy-to-let plans.
With the Section 21 death knell being sounded earlier than anticipated, letting agents and property managers have some educating to do. There needs to be clear communication to landlords as to what the abolishment of Section 21 notices will mean for them – especially if they are thinking of asking their current tenant to leave.
Of course, the industry awaits news on how Section 8 notices may change in order to accommodate some repossession of property circumstances, and ARPM will continue to report back on the latest notice developments.Back to knowledge hub