Yesterday in the Queen’s Speech, the government repeated its commitment to a major review of the Private Rented Sector (PRS). Commentators and journalists are stating a White Paper will be published in the Autumn which will give details of:
- Improving tenant security
- Reforming the grounds for repossession by landlords
- Introduction of a ‘lifetime deposit’
The emphasis was very much on improving the PRS for tenants and driving out bad landlords from the sector without penalising good landlords.
It is widely expected that the section 21 ground for repossession will disappear to be replaced with strengthened section 8 grounds for landlords with a valid case. Whether landlords will get a more efficient court system they have asked for is unclear.
A ‘lifetime’ deposit is intended to be easily transferable between properties and is intended to reduce the cost of moving for tenants.
The government also stated its intention to reform ground rents for new leasehold properties, create a new Building Safety Regulator and modernise the planning system so that more homes can be built.