The government should “just get on with implementing the Renters Reform Bill” an industry figure says.
Jonathan Rolande of the National Association of Property Buyers says the delays surrounding what has proved to be a controversial bill now risk causing long-term damage to the sector.
“The bill is well-intentioned and rightly gives more security to tenants whilst protecting landlords from many of the potential side effects.
“The main fear of many landlords is the removal of Section 21, the notice that is served to obtain possession of the property, once the initial term has expired.
“Once the bill is in place, possession can only be sought if a person is selling or moving back in. This is something that landlords feel gives them far less say in who lives in their property and has been a contributing factor in many deciding to sell up and exit the sector.”
He insists that the removal of Section 21 will have little or no impact on most landlords.
“If a tenant is happy and paying rent why issue them notice? If they are misbehaving in a serious way or not paying, a Section 8 still gets the property back” he says.
“The problem here is less the content of the bill and more the perception. Although you’ll be hard-pressed to find many people sympathetic to the average landlord, they have a right to feel that they’ve been under attack of late.”
Urging the government to get on with things he adds: “Hundreds of thousands are contemplating selling up and leaving the sector. With prices usually higher for a vacant home, many tenants may somewhat ironically find Section 21s arriving to beat the ban and allow the property to sell for market value.
“If the Renters Reform Bill is the medicine the market needs, can we just get on with it? The delay and therefore the fear of the unknown is the worst of all worlds. Many happy tenants will lose their homes in this interim period. Once it is in place, we’ll know what we’re dealing with and there’s a good chance it won’t be as dreadful as people think.”