It was announced last week that the Government is proposing an increase to the length of minimum letting agreements to increase the security for those who rent a home in the private sector.
The proposal will allow tenants to opt for three-year tenancy term, with a six-month break clause for both tenants and landlords enabling either party to withdraw from the agreement.
It has been felt that the current legislation is unfair when tenants are forced to uproot their lives at short notice because of their rental contract, especially where children have school placements that they are at risk of losing should they have to move.
By giving people longer tenancy agreements, it will allow people to put down roots and have a place to call home. It will also help to build stronger communities.
The changes could lead to landlords with just one property exiting the buy-to-let sector. It could also lead to an increase in the housing stock available for those looking to buy a home, however the more large-scale landlords with multiple properties would be unaffected and may even welcome these changes.
The proposal is being put out for consultation until August 26 so you can have your say.
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