'I've sold my flat before the Renters' Rights Bill becomes law'
Summary
Patricia Ogunfeibo, a landlord, sold her flat because of upcoming changes in the Renters' Rights Bill in the UK. This new law will ban "no-fault" evictions and give tenants more rights. Some landlords are worried the changes might lead to higher rents.Key Facts
- Patricia Ogunfeibo has rented out properties since 1986 and recently sold a flat in response to the Renters' Rights Bill.
- The Renters' Rights Bill will stop Section 21 "no-fault" evictions, meaning landlords can't evict tenants without a reason.
- Tenants will gain the right to challenge rent increases and won't face discrimination for being on benefits.
- Some landlords are concerned that the new law could push up rent prices.
- There has been a slight drop in the number of rental homes managed by agencies like the Property Franchise Group.
- Data shows a decrease in the number of new rental properties entering the London market.
- A survey indicated that smaller landlords are more likely to leave the rental market compared to larger landlords.
- The bill aims to ensure that both tenants and responsible landlords have confidence in the rental system.
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