The Queen’s Speech this morning confirmed that the Government will bring forward “new measures to protect tenants”.
While the speech itself did not go into any details, the ensuing small print confirms that a new Renters Reform Bill will be introduced to protect tenants, and this will remove Section 21 from the Housing Act while “strengthening the rights of landlords who need to gain possession of their property when they have a valid reason to do so”.
The new Bill will also introduce a new lifetime deposit.
The Queen’s Speech also confirmed that houses will be made available at a discount for local first-time buyers.
David Cox, CEO of ARLA Propertymark, said: “The absence of any meaningful plan to boost the level of social housing in this country, the announcement confirming the abolition of Section 21 in today’s Queens speech is another attack against the landlords who actually house the nation.
“If Section 21 is scrapped, Section 8 must be reformed and a new specialist housing tribunal created.
“Without this, supply will almost certainly fall which will have the consequential effect of raising rents and will further discourage new landlords from investing in the sector.
“ARLA Propertymark will be engaging with the Government to ensure they fully understand the consequences of any changes, and we will be scrutinising the legislation, to ensure landlords have the ability to regain their properties if needed.