Thanks to Meghan Owen and BBC Online News for the Headline.
I know people personally who have been given “no fault eviction” notices even though they were good tenants.
It all went wrong with the 1988 Housing Act which was enacted by the Conservative Government led by Margaret Thatcher. It was suppose to invigorate the “rental housing market”, but really was a disguise for the Buy to Let Boom in mortgages resulting in many people buying up multiple properties to rent at a profit, while not having a clue how to manage them.
Those very same people will face financial difficulities now,because they are being asked with the new act to provide tennants with “rights” that they themselves would expect if they lived in rented property.
Also ,historically, these new rental owning paper millionaires , who relied on a healthy balance sheet of an increase in capital value of their properties will be hit by actually having to ensure the properties are fit for purpose, that they cannot evict a tenant just because they don’t like them and that they will be responsible landlords.
Yes some are going to leave the market because that was never in their remit , to actually do the job properly. However, those that do rent out in a professional manner will survive and hopefully we will not have a Law Change back to the bad old days when all rights lay with the Landlord and the renter was very exposed to abuse.
Will this reduce available supply, I’m not so sure. There are so many new builds going up that maybe we will create a new layer of owners and not renters. Whether this is good and maybe our view on owning property and land is skewed remains to be seen.
Nevertheless the 1988 Act was misguided and encouraged disreputable landlords and irresponsible mortgage lending. Roll on May the first when the Renters Rights Act 2026 becomes Law.
Namaste and Thank You for Reading. 🙏
thenotsomightyom 