The Government is
consulting about measures to increase security for tenants in the
private rented sector – such as introducing a 3 year tenancy with a 6 month break
clause. The private rented sector makes up 20% of all households.
The
average length of residence in the private rented sector is 3.9 years in
comparison with 17.5 years in the owner occupier sector and 11.3 years in the
social sector. However, 81% of tenancies granted are for an initial fixed term
of 6 or 12 months
The
consultation, which is open until 26 August, seeks views in the barriers to
longer tenancies and how to over- come them. Any policy changes brought
forward as a result of the consultation will be subject to appropriate
assessment. It is likely that further grounds for repossession may be
introduced, for example to allow a landlord to sell their property that is
subject to a three year let.
With an eye on
how reforms may affect our Landlords’ Legal and Commercial Property Owners’
products, we will track the consultation response document and any legislation
that emerges to implement changes. In due course you can expect some further
blogs as we keep you updated.
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If you'd like to see the original announcement from the
Ministry of Housing, Communities and Local Government you can do so here: https://www.gov.uk/government/news/longer-tenancy-plans-to-give-renters-more-security
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