Housing Minister announces intention to Regulate the Property Sector
Ahead of the BBC’s ‘Leasehold Day’ on the 22nd November 2024, the Housing Minister, Matthew Pennycook, unveiled the government’s plan to transform the property sector by abolishing the leasehold system and replacing it with commonhold as the default tenure.
This pivotal reform is set to be implemented within the current parliamentary term, possibly alongside the long-awaited introduction of the Regulation of Property Agents (ROPA).
The ROPA report, published in 2019, with Lord Best chairing the working group, highlighted the necessity for property agents to possess formal qualifications, ensuring they have the requisite knowledge and skills to serve clients effectively.
An Update from Westminster
An Update on the Renter's Reform Bill
The White Paper on the Renters' Reform Bill, should have been published in October and has now been delayed until 2022, The announcement made by the Department of Levelling Up, Housing and Communities was a surprise given that the Bill had appeared on the government's agenda and in the Queen's Speech. The government announced that the White Paper would provide an outline of it's plan to its reform the private rented sector. The proposed changes are set to include:-
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abolishing Section 2
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the introduction of lifetime deposits
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a Tenants' Redress Scheme
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a Landlords' Register & Regulation of Landlords
A recent survey looked at the difficulties individuals face when renting, letting or enforcing property standards in the Private Rented Sector.The Government’s said that they are committed to exploring the merits of a national landlord register and the Department for Levelling Up, Housing and Communities are engaging with a range of stakeholders across the private rented sector.
The initial research exercise will complete in December 2021. The findings from this survey of private tenants and other sources of research will be used to inform next steps and further engagement.