INSIGHT - Edition Ten - Winter 2021 online - Flipbook - Page 42
LETTINGS LEGISLATION:
TENANCY NOTICE PERIODS
Earlier this year we reported that the UK government announced that notice periods
for Assured and Assured Shorthold Tenancies would revert to those prior to the
pandemic. The Coronavirus Act 2020, which saw the government increase all notices
to six months for most grounds (including Section 21 notices), with exemptions for
certain serious cases, were phased out on 1st October 2021. Fiona Roe, Residential
Lettings Manager, reviews how these changes are impacting on the current lettings
landscape.
Since phasing out of the Coronavirus Act 2020, official UK
government figures have shown that the number of possession
actions across England and Wales were higher than those
reported in 2020 (during the pandemic and, when possession
actions significantly dropped thanks to the Act) but at much
lower levels reported in the same quarter of 2019.
Over one third of UK households are currently either private or
socially rented properties and although it was feared that some
landlords would take advantage of the relaxed regulations that
doesn’t seem to have been the case in the North of England.
Agents, like ourselves, worked hard during the pandemic to
ensure both our tenants and landlords could resolve tenancy
issues before they escalated. The height of the pandemic saw
higher levels of unemployment with resulting rent arrears
from what were historically highly rated tenants. The eviction
process is often both costly and lengthy to landlords, and with
employment seeing higher levels than it has for a long time
tenants are now in a position to make up those arears.
In a report published by Statistica, the past 12 months have
shown a 5% increase in rental prices in North Yorkshire alone,
with over 50% of tenants aged between 18-29. The increased
demand for rental properties continues to rise and does not
look set to lessen any time soon with the majority of tenants
looking for long term agreements.
There have been significant changes to letting legislation over
recent years, and we understand that whilst this legislation is
vital when protecting tenants, it can be difficult to keep up with,
and that’s why we keep abreast of legislative change for you.
We are ARLA qualified, have extensive experience in our local
markets and pride ourselves in making it easy for landlords to
let property.
We can offer landlords products which provide additional
security to protect their investments as well as systems which
streamline the letting process to ensure minimum void periods.
To learn more about our residential teams visit
www.youngsrps.com.
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