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What does Queen's speech mean for rental sector?

12.05.2022

From the scrapping of Section 21 evictions and changes to the leasehold system, here is what the Queen’s speech revealed about changes to the rental market.

The key thing that the speech confirmed in relation to the rental sector is that Section 21 evictions will be scrapped as part of rental market reform.

The government claims that getting rid of Section 21 evictions will both strengthen renters’ rights and give landlords more power to help tackle anti-social tenants or those in substantial rent arrears.

Landlords’ grounds for repossession are also set to be reformed, and whilst it is thought this will involve strengthening Section 8 of the Housing Act, this is yet to be confirmed.

It was also revealed that a new ombudsman for private landlords will aim to ensure that disputes can be solved without involvement of the courts.

Rental reforms also confirmed that there will be a new property portal launched to help landlords understand their obligations, whilst tenants will be able to use the portal to get information on their landlord, monitored by local authorities.

Following this, changes to the leasehold system were also announced.

The Leasehold Reform Bill proposes to ban landlords from charging ground rent for new long residential leases from 30th June 2022.

The bill will also ban new leasehold houses being built, ensuring that all new homes built will be freehold.

It’s thought that further detail on the landmark reform of the rental sector will be published shortly, setting out further details.

Original source: https://www.simplybusiness.co.uk/knowledge/articles/2022/05/end-of-section-21-confirmed-in-queens-speech/

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