Rental reform legislation finally moves forward

Rental reform legislation finally moves forward

After reports that it had been delayed due to ‘procedural issues’, this long-awaited Bill finally got its first reading in Parliament on 17th May. It’s believed the real reason for the delay might have been that some MPs feared the proposed reforms were too harsh on landlords - and that’s exactly what many in the lettings industry have been saying since proposals for abolishing section 21 were announced several years ago.

If this proves to be true and the reforms cause more landlords to sell up, it could lead to worsening issues for the private rental sector, given that there’s already a significant shortage of stock across much of the country.

While it seems that the draft legislation is following the proposals outlined in last summer’s White Paper  - there may be some changes as the Bill progresses through parliament, which is expected to take around a year.

Contact a Member of the Smart Lettings team today to see how this will effect you 01656657033.