Partner and Head of Property, Michael Stock was quoted in Property Industry Eye and Landlord Today, on how the abolishment of Section 21 eviction notices could lead to a surge in evictions by private landlords anxious to sell their portfolios before restrictions come into force.
The decision to overturn Section 21 of the 1988 Housing Act, which allows landlords to evict tenants without reason and with two months’ notice, was included in the Queen’s Speech last week, which was delivered by Prince Charles.
However, without clarification on how the changes affect landlords who genuinely want tenants out so they can sell their investments, it is feared there will now be a rush to market ahead of the changes.
Michael Stock, warned: “There will be many tenants evicted before legislation is passed. We will potentially see panic evictions and a surge in private landlords selling their rental properties. Consequently, we’ll see a reduction in properties in the private rental sector, the ripple effect of which will mean more stress on the rental market. It could cripple the sector. I don’t think this has been thought through at all.”
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