This month saw the release of the Government’s white paper, ‘Fixing our broken housing market’. The 104-page white paper outlines the problems with the UK housing market and sets out the Government’s proposal to boost supply in the short and long term.
Painting a negative picture of the UK’s housing market the white paper discusses a number of proposals aimed at improving the housing market some of which will be of direct interest to landlords in the private sector, including:-
- the introduction of banning orders which will remove the worst landlords or agents from operating, as well as enabling local councils to issue fines as well as prosecute;
- banning letting agents fees from being charged to tenants to improve competition and to give renters greater clarity over what they pay;
- Recognising that homelessness is on the increase the government has pledged to support the ‘Homelessness Reduction Bill’ which should see local authorities taking steps earlier on to prevent homelessness. This should mean that tenants are re-housed earlier reducing the need for landlords to be put to the expense of having to instruct bailiffs;
Whilst it remains to be seen what effect the government’s proposals will have this white paper is interesting for it demonstrates that the government is now taking an interest in the rental sector. This focus should be followed with interest by private landlords because, in due course, it could lead to more regulation in the private rental sector.
If you are a landlord and would like more detailed advice on your rights and or obligations please contact Adam Palmer on 0207 354 3000.