11-06-2007
Buy-to-Let law reform a step closer
The government has conducted one of its largest consultation projects to date, in order to look thoroughly at the rental market and how it can be regulated more closely to benefit both landlord and tenant.
The three areas they have been looking at for potential reform are social housing, the contract between the landlord and the tenant, and the clarification of legal responsibilities for both landlord and tenant.
A new policy is proposed for the social rental market, creating a single social tenure that puts social housing providers and private sector landlords who wish to rent to those on benefits on the same terms. Revision of this particular sector is intended to increase flexibility in the provision and management of social housing.
The relationship between landlord and tenant has long been a tentative one, with neither party often clear as to their legal responsibilities. Revision of the rental contract will ensure greater transparency for both parties and ensure that everyone has a clearer understanding of their rights and obligations.
Landlords will thereafter be less ignorant of their role in the rental process and tenants will be clear on the terms under which they rent a property and the circumstances and process for which their right to occupy will come to an end.
With no fixed date for the bill to be passed, landlords should be checking regularly for updates. See the final report at: http://www.landlordlaw.co.uk/content/lc297_vol1.pdf
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