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Lettings News: Is managing your rented property about to get tougher?
Is managing your rented property about to get tougher?
Ahmed Khalil of Khalil Properties explains why a new law could make it much more challenging to manage your rented property.
Managing properties is about to get tougher
Have you heard about the proposed legal changes that could impact landlords? On 11 February the House of Lords passed amendments to the Deregulation Bill which, if ratified by the Commons and given Royal Ascent, will severely limit landlords in using a Section 21 notice to evict tenants.
Why are the changes being made?
The proposed amendments have been drafted in reaction to complaints of ‘revenge evictions’ by private landlords – when a landlord responds unfairly to complaints from tenants about the standard of the rented property.
What are the proposed changes?
Landlords will not be able to evict a tenant using a Section 21 procedure if they have received an improvement or hazard awareness notice in the last six months, or if certain basic requirements have not been met, and the notice period for evictions will be increased to two months.
What are the consequences likely to be for landlords?
The changes will make it harder to use a Section 21 notice. Many landlord bodies have argued that the legislation is likely to deter landlords from issuing eviction notices – even for legitimate reasons. There is also the possibility that certain tenants may choose to play a ‘revenge tenancy’ card by submitting requests for repairs in order to avoid eviction.
Will the changes become law?
There has been a good deal of cross-party support for the bill. It looks almost certain to become law, with one obstacle: time. With just a few weeks before the end of this session of parliament (30 March) there is a race against the clock that these amendments may not win. Time may be on the landlords’ side.
Can managing properties be easier?
We offer a Guaranteed Rent scheme that takes away the hassles of finding and managing tenants, the trouble of dealing with day-to-day maintenance issues and the endless worries over legal changes.
Quite simply we lease your property for five years, we guarantee you rent every month whether the property is occupied or not, and we return your investment to you in the same condition as we received it in.
So what will you do with all that time you have saved? And how relaxed will you be without all that worry?
For more information call Ahmed Khalil on 01273 573960, visit Khalil Properties at 124 Lewes Road, Brighton BN2 3LG or find us online at www.khalilproperties.co.uk.